Confirmation Plan

A Confirmation Plan is a structured approach used primarily in auditing and assurance services to verify information provided by clients. It involves obtaining evidence by asking third parties (like banks or suppliers) to confirm facts, such as account balances or transaction details. This ensures the information is accurate and reliable. The plan outlines what needs to be confirmed, how the confirmations will be obtained, and the timeline for these procedures. Ultimately, it aims to enhance the credibility of financial statements and instill confidence in stakeholders about the integrity of the reported data.