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Audit of related party balance

  • Writer: Thomas Tsang
    Thomas Tsang
  • Dec 3, 2020
  • 1 min read

In auditing related party balances or transaction, to substantiate the transaction is vital procedures. Although confirmation is a common procedure, it is most not reliable audit evidence. However, we can call the related party‘s finance department to authenticate the confirmation or transaction.

 
 
 

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