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In accordance with International Standards on Auditing( ISAs) distinguish between positive and negative confirmations?

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Question added by Saeed Ur Rehman , Senior Manager Audit & Advisory , Afrasiab Tanveer & Co Chartered Accountants
Date Posted: 2016/09/01
Tamer Elbeshbishy
by Tamer Elbeshbishy , Financial and Administration Manager , Al Muzun Holding Group

Agree with Mr Wilfredo , However, also to tell that in IAS or GAAP or in many local standerdes, the meaning are very close

Wilfredo Quito
by Wilfredo Quito , Accounting Manager , DDC LAND INC.

 

Positive confirmation  - A request that the confirming party respond directly to the auditor indicating whether the confirming party agrees or disagrees with the information in the request, or providing the requested information.  When a Response to a Positive Confirmation Request Is Necessary to Obtain Sufficient Appropriate Audit Evidence

Negative confirmation - A request that the confirming party respond directly to the auditor only if the confirming party disagrees with the information provided in the request

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