Written Authority

Question 1

What do banks require?

Answer 1

Written authority from their customers to disclose the information requested by the auditors in a bank confirmation letter

Question 2

What form does written authority often take?

Answer 2

An ongoing standing authority rather than a separate authority each time information is requested

Question 3

What must auditors’ request refer to

Answer 3

Client’s letter of authority and the date given in it

Question 4

Alternative of client’s letter

Answer 4

May be countersigned by client or it may be accompanied by a specific letter of authority

Question 5

What happens in the case of joint bank accounts?

Answer 5

Letters of auithority signed by all parties will be necessary