Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Nonprofit companies

Confirmation Control and Summary

Confirmation Control and Summary

This workbook is designed to help auditors track positive and negative confirmations and to summarize and evaluate the results of their procedures.  This workbook also allows auditors to document any alternative procedures performed for positive confirmations, and if sampling was used in the confirmation procedures, to project the misstatements relating to the sampled confirmations.

Entering Data

This workbook will accommodate up to 1,000 positive confirmations and 1,000 negative confirmations.
The template consists of the following sheets:
  • Positive Confirmations:
     Enter general information about the total items and dollar balance in the account, whether or not negative confirmations are used, whether or not the population is stratified, and the cutoff amount for individually significant dollar items. Also, enter specific confirmation control information such as the confirmation requests sent, responses received, documentation of whether the item was selected because it was an unusual item, documentation determines the item type (individually significant, upper stratum, or lower stratum) based on the input data.
  • Negative Confirmations:
     Enter the information about the confirmation requests sent, any responses received, and the results of the negative confirmation procedures.
  • Confirmation Summary - This sheet automatically summarizes the results of all confirmation procedures based on detailed information entered into the Positive Confirmations and Negative Confirmations sheets. The format of this workbook changes based on the inputs made on the Positive Confirmations worksheet.
  • Misstatement Summary - Automatically projects misstatements from sampling procedures on positive confirmations based on the dollar value of the sample strata, as entered on this sheet, and the detailed information entered on the Positive Confirmations sheet. There are only two data entry cells at the middle of this worksheet.
The Positive Confirmations and Negative Confirmations worksheets utilize conditional formatting and data validation to assist the user with proper data input. See the section “General Workpaper Functionality and Tips for Entering Data” for further information concerning how this workpaper utilizes conditional formatting and data validation.

Printing

The Positive Confirmations and Negative Confirmations worksheets are set to print approximately the initial 45 confirmation listed. To expand the print range for a particular worksheet, select the Page Layout ribbon and double-click the small box at the bottom-right of the Page Setup portion of the ribbon (or for earlier versions of Excel, select the menu path File | Page Setup). From the Page Setup pop-up box, select the Sheet Tab and then update the Print Area field as desired.