How to prepare bank confirmations without stalling fieldwork
A practical sequence for listing accounts, authorizing requests, and chasing outstanding replies.
Start with a complete list of accounts, including dormant ones and foreign-currency deposits. Auditors still need evidence that dormant balances exist and are correctly classified.
Authorize confirmation requests in the format your bank accepts. Some Taipei branches still prefer wet-ink authorization; others accept scanned letters. Know which before planning week.
Send requests early in fieldwork, not after substantive testing of receivables. Confirmation lag is independent of how fast your schedules are ready.
Track outstanding replies in a shared sheet with dates contacted. A polite follow-up after five business days is usually enough; a second follow-up at ten days prevents last-week panic.
If a bank refuses electronic confirmation, document the refusal and agree alternative procedures with the auditor — typically inspecting original statements and reconciling items.