FINANCIAL INSTITUTION CONFIRMATION REQUEST Definition

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FINANCIAL INSTITUTION CONFIRMATION REQUEST is a confirmation sent to the client's bank or other financial institution asking the bank to confirm directly to the auditor information about balances at a particular date.

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UNAPPLIED FUNDS is available money credited to a temporary holding (suspense) account, pending determination or instruction on the breakdown of how the money is to be allocated.

RECEIPTS this term, unless otherwise qualified, in accounting means cash received.

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