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Audit Confirmation Letter To Customer Template for Singapore

An Audit Confirmation Letter to Customer is a formal document used in Singapore's audit process to verify specific information about transactions, balances, or arrangements between the audited entity and its customers. The letter follows Singapore Standards on Auditing (SSAs) and must comply with the requirements of the Accountants Act and relevant regulatory frameworks. It serves as a critical external confirmation tool in the audit evidence gathering process.

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What is a Audit Confirmation Letter To Customer?

The Audit Confirmation Letter to Customer is a fundamental component of the external audit process in Singapore. It is used when auditors need independent verification of information from a company's customers as part of their audit procedures. The letter is designed to comply with Singapore's regulatory requirements, including the Companies Act and Singapore Standards on Auditing. It typically includes requests for confirmation of account balances, transaction details, and other relevant financial information. This document is particularly important for ensuring the accuracy of financial statements and maintaining compliance with Singapore's strict auditing standards.

What sections should be included in a Audit Confirmation Letter To Customer?

1. Addressee Details: Full name, address and contact details of the client's authorized representative

2. Purpose of Letter: Clear statement explaining the audit confirmation purpose and the period under review

3. Scope of Confirmation: Detailed listing of specific items, balances, or information requiring confirmation

4. Response Instructions: Clear instructions on how and when to respond to the confirmation request, including deadline and return method

5. Signature Block: Space for client's authorized representative to sign and date the confirmation

What sections are optional to include in a Audit Confirmation Letter To Customer?

1. Confidentiality Statement: Statement regarding the confidential nature of the information and its intended use (included for listed companies or sensitive transactions)

2. Third Party Authorization: Authorization clause for sharing information with external stakeholders or other parties involved in the audit

3. Disclaimer: Legal disclaimers regarding the use and reliability of the information provided

What schedules should be included in a Audit Confirmation Letter To Customer?

1. Schedule A - Financial Statement Extract: Relevant extracts from financial statements requiring confirmation

2. Schedule B - Schedule of Balances: Detailed listing of account balances, transactions, or other financial information requiring confirmation

3. Schedule C - Authorization Form: Form authorizing the release of information to auditors, including any specific requirements under Singapore law

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Singapore

Publisher

黑料视频

Document Type

Confirmation Letter

Sector

Sales

Cost

Free to use

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