Audit Confirmation Letter for Ireland

Audit Confirmation Letter Template for Ireland

An Audit Confirmation Letter is a formal document used in the Irish audit process to obtain third-party verification of specific information about the audited company's financial position, transactions, or arrangements. Governed by Irish company law, particularly the Companies Act 2014 and the European Union (Statutory Audits) Regulations 2016, this document serves as a crucial piece of audit evidence. It follows Irish auditing standards and professional requirements while adhering to data protection regulations. The letter facilitates independent verification of financial information, balances, or arrangements between the audited entity and external parties.

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What is a Audit Confirmation Letter?

The Audit Confirmation Letter is a critical tool in the Irish statutory audit process, used when independent verification of financial information is required from third parties. This document type is essential for complying with Irish audit requirements under the Companies Act 2014 and International Standards on Auditing (Ireland). The letter is typically issued during annual audits, special purpose audits, or when specific verification is needed for material transactions or balances. It helps auditors gather reliable audit evidence by obtaining direct confirmations from external parties about various aspects of the audited company's financial statements, including but not limited to bank balances, investments, loans, accounts receivable, accounts payable, and other financial arrangements. The Audit Confirmation Letter's format and content are designed to meet Irish legal requirements while facilitating clear communication and response from the confirming parties.

What sections should be included in a Audit Confirmation Letter?

1. Letterhead and Date: Auditor's firm letterhead and current date

2. Recipient Details: Full name, title, and address of the recipient (typically the third party providing confirmation)

3. Reference Line: Clear reference to the client being audited and the audit period

4. Purpose Statement: Clear statement of the purpose of the confirmation request and the audit context

5. Information Request: Specific details of the information being requested for confirmation

6. Response Instructions: Clear instructions on how to complete and return the confirmation

7. Confidentiality Statement: Statement regarding the confidential nature of the information

8. Authorization: Client's authorization for the third party to release information

9. Signature Block: Space for auditor's signature and client's authorization signature

What sections are optional to include in a Audit Confirmation Letter?

1. Liability Limitation: Optional disclaimer limiting the third party's liability in providing the confirmation - used when dealing with financial institutions or professional firms

2. Deadline Statement: Specific deadline for response - included when timing is critical for audit completion

3. Alternative Contact: Secondary contact information - used for complex confirmations or when multiple parties are involved

4. Data Protection Notice: Detailed GDPR compliance statement - required when handling personal data or when specifically requested

5. Professional Standards Reference: Reference to specific auditing standards - included when dealing with other professional firms or for regulatory purposes

What schedules should be included in a Audit Confirmation Letter?

1. Confirmation Details Schedule: Detailed listing of specific items requiring confirmation (e.g., account balances, loan details, investment holdings)

2. Response Form: Structured form for the recipient to complete with requested information

3. Authorization Letter: Separate client authorization letter if required by the third party

4. Supporting Documents: List of relevant documents or statements being referenced for confirmation

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Genie AI

Document Type

Confirmation Letter

Sector

Sales

Cost

Free to use
Relevant Industries

Financial Services

Banking

Professional Services

Manufacturing

Retail

Technology

Healthcare

Construction

Real Estate

Energy

Telecommunications

Non-Profit Organizations

Education

Transportation and Logistics

Relevant Teams

Finance

Accounting

Treasury

Internal Audit

Compliance

Legal

Risk Management

Corporate Governance

Accounts Receivable

Accounts Payable

Relevant Roles

Audit Partner

Senior Auditor

Audit Manager

Chief Financial Officer

Financial Controller

Accountant

Company Secretary

Finance Director

Treasury Manager

Accounts Receivable Manager

Accounts Payable Manager

Internal Audit Manager

Compliance Officer

Risk Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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