A bank confirmation letter confirms a loan or line of credit with a specific financial institution, verifying that the client has access to the necessary resources for a given business agreement. It can also confirm the existence of a line of credit for a business customer. The letter is only official when signed by authorized […]
Confirmation bias is a cognitive bias where people seek out information that supports their beliefs and discard contradictory information. It can lead to bad decisions and is related to the desire to be right. To avoid it, people should analyze their beliefs from a broader point of view and gather more information before making conclusions. […]
Accounts receivable confirmation is a technique used in auditing to verify a company’s records by sending communications directly to clients. There are two types of confirmation: positive and negative. The process involves writing a letter to clients, compiling information, and using it in a final audit report. The selection process can be a mix of […]
