Positive confirmation

Positive confirmation,

Definition of Positive confirmation:

  1. Positive confirmation is an auditing inquiry that requires the customer to respond, confirming the accuracy of an item. Positive confirmation requires proof of accuracy by affirming that the original information was correct or by providing the correct information if incorrect.

  2. An auditors request to confirm about the accuracy of an item. The request may be oral or written and is sent to a party dealing with a client in order to confirm whether or not an item is correct. The party receiving the confirmation must reply for the auditor to verify the accuracy of its clients financial records.

  3. Positive confirmation is part of the confirmation procedures that auditors use to confirm specific pieces of information. The recipient of the letter is to reply to confirm accuracy or supply information and send it back to the auditor. Some examples of the information required from auditors include confirming the following:.

How to use Positive confirmation in a sentence?

  1. Positive confirmation is an auditing inquiry that requires the customer to respond, confirming the accuracy of an item.
  2. Positive confirmations are used to verify the amounts of liabilities, investments, bank accounts, accounts receivables, and payables.
  3. Positive confirmation requires proof of accuracy by affirming that the original information was correct or by providing the correct information if incorrect.

Meaning of Positive confirmation & Positive confirmation Definition