RE:Simply Soups Inc. Cash Confirmations
Confirmationto cash listing
Thecash that has been listed by my client, Simply Soups Inc., presentsits statement following all the required standards of financialreporting and it also takes into consideration all the materialaspects the pieces of evidence supporting the recording are containedtherein. As an audit staff of Putnam and Jacobs LLP, I am convincedthat there is no exaggerations or overstatement by the administrationof Simply Soups Inc.
Confirmingthe bank reconciliation
Thebank reconciliation statement is presented accurately, and I expressmy opinion as satisfying. For instance, the listing of the FifthFederal is quoted at $478,922 and $508,219 figure is reflected on thebank statement with 29,298 as the balancing figure that is definitelyas a result of deposits from clients done into the account of thefirm I am auditing,(Simply Soups Inc., “Electronic Confirmationprocess”, p.18). All the other accounts like BNY Federal andAmerican North West Bank are well presented with balancing figureaccurately addressing the disparity of the two bank reconciliationstatement and the company accounts.
Confirmationon the persuasiveness of the audit evidence
Theinformation listed offers lots of persuasiveness and I am convincedthat the information can be relied upon in the auditing of thestatements. The risk associated with the authenticity of thefinancial information presented in the evidence is very minimal asthe source of the evidence is highly reliable, and there are nointermediaries that may have manipulated data.
Useof Third Party Intermediary
Usingthe evidence that was provided by the third party providedinformation that was instrumental to crediting the audit statement.In the audit report, the intermediary maintained data integrity, andthis ensured that the verbatim information was passed to the auditoras required. As a requirement of the auditing standards, the auditorshould get to understand the internal mechanism of control employedby the intermediary and this was upheld by the auditor when preparingthe audit report.
Ihave exercised professional skepticism on the evidence that supportsthe listing, and I am convinced the data is accurate and serves theauditing purpose very effectively. Therefore, I agree with thepresentation and the listing of all the statements.
SimplySoups Inc., “ElectronicConfirmation process”,Background and Case Introduction.