Confirmation.community | Why is the completeness assertion not provided by the banks?

  Why is the completeness assertion not provided by the banks?

Published:  08/03/2015


  Answer:

Due to the nature of the banks environment and the complexity and number of bank systems and departments, the banks are unable to give a complete view of a client’s profile without performing a lengthy forensic search throughout the bank. Also auditors’ usually only send confirmations to banks they are aware of that their clients have facilities and not to any of the other banks in the country. The completeness assertion has therefore been addressed in SAAPS 6 illustrative procedures (SAAPS 6 Appendix A)
 
(Popularity = 0/100, Rating = 0.0/5)

Didn't find what you were looking for?


Watch a video

Check out our helpful video guides

Contact Support

Contact our support team
CQS logo

CQS Technology Holdings is one of South Africa’s leading software houses specialising in the design, development and deployment of software solutions for financial professionals. CQS provides a full range of professional services and “best of breed” solutions to nearly 4,000 customers spanning Audit, Risk Management and Corporate Performance Management.

Copyright © 2017 CQS Technology Holdings | All Rights Reserved