To facilitate industry-wide electronic confirmations by Malaysian auditors and bankers for the purpose of enhancing the efficiency and security of the external confirmation process, the MIA engaged a local vendor, Extol Corporation Sdn Bhd (Extol), to develop an industry-wide electronic bank confirmation platform (the Platform), with a much lower usage fee as compared to the current fee charged by an international service provider. Balance Confirmation Letter Format Date: To, Accounts Manager (Name of Party) (Address) Dear Sir, Sub: Balance confirmation as on 31st August 2013 as required by internal audit department. In Malaysia, online confirmations are being used in a limited manner for confirmations with some foreign banks. Online confirmations are now the preferred method for confirming client information in jurisdictions such as the United States of America, the United Kingdom and Australia. Such delays could impact the timeliness of financial statements being approved and signed off by auditors. The conventional process is slow and time-consuming. Many bank confirmation letters are sent to banks annually by auditors to request for confirmation of audit clients’ bank balances and arrangements.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |