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Date Bank Name Attention Address City State Zip Re Bank Account Balance Confirmation The Delaware Department of Insurance is currently conducting an organizational examination on or about of your customer described below this date Name of Captive Insurance Company Solely for the purposes of verification please confirm below the balance in account. Attached is a letter from your client giving you permission to release the account information to the Delaware Department of Insurance. Please mail your reply to the address below and/or fax to 302 577-1212. Examiner for the Bureau of Captive and Financial Insurance Products Attn Jamie Bafundo 704 King Street Suite 602 Wilmington DE 19801 Fax 302 577-1212 For security purposes this form cannot be sent to our department via email. If you have any questions please contact Jamie Bafundo at jamie. Date Bank Name Attention Address City State Zip Re Bank Account Balance Confirmation The Delaware Department of Insurance is currently conducting an or....

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Confirmation document Questions & Answers

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Positive confirmations are more reliable because the auditor can perform follow-up procedures if a response is not received from the customer. With a negative confirmation, failure to reply must be regarded as a correct response, even though the debtor may have ignored the confirmation request.

While positive confirmation requires supporting information despite the accuracy of the original records, negative confirmation requires a response only if there is a discrepancy.

Negative confirmation is a letter or document requesting that the recipient should only respond to the sender if there were an issue with the contents of the message or the recipient wanted to opt-out of the event that the letter had addressed.

Blank forms will often provide a greater amount of assurance; however, they will often result in lower responses as people are less likely to make the effort to fill them out. Blank confirmations provide the highest level of assurance.

Negative confirmation requests may be used to reduce audit risk to an accept able level when (a) the combined assessed level of inherent and control risk Page 16 4 CONFIRMATION OF ACCOUNTS RECEIVABLE is low, (b) a large number of small balances is involved, and (c) the auditor has no reason to believe that the ...

For example, a confirmation letter tells a customer that the client company's records at year-end show an ending accounts receivable balance for that customer of $500,000. If the customer agrees with this number, it does not have to contact the auditor to confirm the supplied information.

Positive confirmations should be used when there are large individual accounts, expected errors or items in dispute, and/or when internal control is weak. Negative confirmations request a response only if the amount stated is incorrect.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232