In this assignment, you will have an opportunity to use Confirmation.com’s web-based third-party confirmation portal that allows auditors to confirm a variety of account balances
In this assignment, you will have an opportunity to use Confirmation.com’s web-based third-party confirmation portal that allows auditors to confirm a variety of account balances. (Here’s a quick video tutorialLinks to an external site. to see what the Confirmation platform looks like.) The Simply Soups Case was designed to help you experience this tool in a hypothetical setting where you are asked to confirm Cash balances for your client by sending confirmations to a series of six banks.
There are three files you can use to help as you work through the assignment. First, you can read through the Simply Soups Case Study file Download Simply Soups Case Study fileto get background information and to understand the nature of your assigned tasks. Second, you can use the Guide for Students Download Guide for Studentsto follow a specific click-by-click guide that helps to walk you through the setup and initiation stages of the assignment. Although the various work papers and documents are provided in the Case Study file, I have recreated them in Excel as a Simply Soups Work Papers file Download Simply Soups Work Papers filethat you may use.
NOTES and FAQs:
The case includes a full version (six banks) and an abbreviated version (four banks). You should complete the full version, by sending confirmations to all six banks in the case materials.
The case uses CY (Current Year) and CY+1 (Following Year). You should view CY as the most recently completed calendar year. For example, you would confirm the 12/31/2022 date if we are currently in the calendar year 2023. (This is because you cannot send confirmations for a future date.)
A very common error message when initiating confirmations occurs when groups mistype the name of the client (i.e., Simply Soups Inc.) (e.g., forgetting to include the period). Be careful to follow directions in the Guide for Students, and you’re likely to have an easier path to completion.
In Step 4, you are required to access Confirmation’s SOC 3 Report disclosing the effectiveness of its system and security controls. If you are unable to find the report per the instructions, you may access it by clicking here Download access it by clicking here.
You should create a single PDF document that includes all of your deliverables in the order specified in the case study. (You should be able to “Print to PDF” from Excel and Word in order to get your native files into PDF format. If you don’t have an Adobe product that allows you to easily piece together multiple PDFs, you might consider using something like Merge PDFLinks to an external site. or another free online tool.) This single PDF document should be uploaded by one group member on Canvas by 11:59pm on Monday, December 4th.
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