Can you explain four matters which would be included in a bank confirmation?

Question

Abdul Khalique · Answer

Matters which would be included in a bank confirmation: -Balances due to or from the bank, the letter may give the account number, description and currency, and should request information on nil balances and accounts closed during the period. -Collateral given or received, maturity and interest terms, unused facilities, lines of credit and any rights of offset or other rights or encumbrances. -Terms and repayments conditions of loan and overdrafts.

-Assets held in safe custody any encumbrances over them.

emebet kibru · Answer

To outline the evidence required when carrying out the year-end audit of the above balance sheet items as at

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Can you explain four matters which would be included in a bank confirmation?

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