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✨ EY Prep 🩷
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Audit
🟢 Easy
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What is a confirmation (circularisation) procedure?
A.
The auditor circulates the draft financial statements to shareholders
B.
The auditor contacts a third party directly to confirm information — e.g. asking debtors to confirm their balance
C.
Management confirms in writing that all information has been provided
D.
The audit team circulates a summary of findings to the client