Confirmations of accounts receivable provide evidence primarily about two assertions - existence and rights and obligations.
Accounts receivable confirmations are more likely to be effective for assertions of existence than for assertions of completeness and valuation. Confirmations serve as proof of existence, rights, and valuation.
Accounts receivable confirmations can be used to demonstrate the assertion of rights. When customers confirm that an invoice is owed to the company, it demonstrates that the company under audit has a legal right to the assets it claims in accounts receivable.
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