External Confirmations Prior to the YearExternal Confirmations Prior to the Year-End

External Confirmations Prior to the Year-End

44 When the auditor uses confirmation as at a date prior to the balance date to obtain audit evidence to support an assertion, under ASA 500, the auditor needs to obtain sufficient appropriate audit evidence that transactions relevant to the assertion in the intervening period have not been materially misstated. Depending on the assessed risk of material misstatement, the auditor may decide to confirm balances at a date other than the period end, for example, when the audit is to be completed within a short time after the balance date. As with all types of pre-year-end work, under ASA 330, the auditor needs to consider the need to obtain further audit evidence relating to the remainder of the period. ASA 330 provides additional explanatory guidance when audit procedures are performed at an interim date.