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The Financial Reporting Council (FRC) is committed to protecting and improving audit and reporting quality.
As part of this, there are three auditing standards that support auditors in obtaining external confirmations:
The key guidance in ISA (UK) 330 and ISA (UK) 505 read:
In addition to the ISA (UK) 330 and ISA (UK) 505, in May 2021, the FRC revised its guidance on the auditor’s responsibilities relating to fraud in an audit of financial statements. The updated guidance reads:
UK Finance has sourced, from select organisations, certain products and services that may offer solutions to some of the challenges our members face, or which may be of interest more generally to members, all of which can be viewed on our Digital Marketplace.
Below you will find specific partners who support auditors in obtaining electronic confirmations.
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The information outlined in the above PDF documents is provided by our partners. UK Finance makes no representation or warranty in relation to accuracy of the information and accepts no responsibility or liability for the information and/or any related material. Accordingly, Members accept that UK Finance shall not be responsible or liable for any loss, damages or costs arising from the information.
Confirmation helps over 4,000 banks and departments around the world respond to more confirmation requests in less time in a secure, client-friendly platform. Confirmation’s modern, efficient process standardises the way requests come to the bank, reducing the amount of manual data entry and potential for errors.
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Disclaimer
The products and services offered on the UK Finance Digital Market Place platform (“DMP Products”) are for Members’ use and Members acknowledge and accept that before availing themselves of a DMP Product, they should ensure that a DMP Product is suitable for their use (and that appropriate due diligence has been conducted, including in relation to compliance with relevant laws). The availability of a DMP Product on the UK Finance Digital Market Place platform should not be construed as an endorsement by UK Finance of such DMP Product. UK Finance accepts no responsibility or liability for a DMP Product and/or any related material or content and makes no representation or warranty (including in relation to suitability) about any DMP Product or provider appearing on the UK Finance Digital Market Place platform. Further, UK Finance accepts no responsibility or liability for any unavailability of a DMP Product, including in relation to a provider or connected websites. Accordingly, Members accept that UK Finance shall not be responsible or liable for any loss, damages or costs arising from the use by a Member of a DMP Product. UK Finance may earn a fee for making a DMP Product available on the UK Finance Digital Market Place platform.
UK Finance has sourced, from select organisations, certain products and services that offer solutions to some of the challenges our members face.
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