CTHRepealedLegislation
ASA 505 - External Confirmations - April 2006
Main FeaturesMain Features
Start here
Get a plain-English read of Main Features
Turn the raw legal text into a practical explanation grounded in ASA 505 - External Confirmations - April 2006.
Main Features
This Auditing Standard:
(a) establishes mandatory requirements and explanatory guidance on the use of external confirmations as a means of obtaining audit evidence;
(b) provides explanatory guidance on the matters to be considered in determining whether and to what extent to use external confirmations under the audit risk model; and
(c) identifies issues to be addressed in implementing external confirmations as an effective audit procedure.