medium10 pts · first answer countsconfirmations

Bank confirmation process

Which approach to bank confirmations is correct?

A.The client collects the bank reply and forwards it to the auditorB.Only balances of accounts in the trial balance are asked aboutC.The auditor controls the request and the bank replies directly, covering balances, loans, guarantees and charges, including accounts possibly closed in the yearD.Bank confirmations are only needed for overdrafts

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Bank confirmation process

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