MTF - Making the Future - Blog #circularizationMTF - Making the Future - Blog #circularizationhttps://en.mtf-srl.com/blogs/tag/circularizationSat, 27 Sep 2025 06:27:31 +0200http://zoho.com/sites/<![CDATA[Circularization letters with SAP thanks to MTF]]>https://en.mtf-srl.com/blogs/post/circularization-letters-with-sap-thanks-to-mtf1MTF implemented a function in SAP Business One ​for printing circularization letters.]]>

MTF implemented a function in SAP Business One 
​for printing circularization letters.

Circularization is an audit procedure governed by ISA Italy 505 "External Confirmations" and commented on by the document "The Application of International Standards on Auditing (ISA Italy) to Smaller Firms," consisting of asking for confirmation of the balance resulting from the accounts at a certain date, the nature and evidence of which varies depending on the inherent and control risks.

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]]>Thu, 24 Nov 2022 09:10:30 +0100<![CDATA[Circularization letters with SAP thanks to MTF]]>https://en.mtf-srl.com/blogs/post/circularization-letters-with-sap-thanks-to-mtfMTF implemented a function in SAP Business One ​for printing circularization letters.]]>

MTF implemented a function in SAP Business One 
​for printing circularization letters.

Circularization is an audit procedure governed by ISA Italy 505 "External Confirmations" and commented on by the document "The Application of International Standards on Auditing (ISA Italy) to Smaller Firms," consisting of asking for confirmation of the balance resulting from the accounts at a certain date, the nature and evidence of which varies depending on the inherent and control risks.

Get Started Now
]]>Tue, 31 May 2022 16:18:00 +0200<![CDATA[Circularization letters with SAP]]>https://en.mtf-srl.com/blogs/post/circularization-letters-with-sapMTF has implemented a function to print circularization letters in SAP]]>

MTF has implemented a function to print 
circularization letters in SAP

Circularization is an audit procedure governed by ISA Italy 505 "External confirmations" and commented on in the document "The application of international auditing standards (ISA Italy) to smaller companies". It consists of requesting confirmation of the balance shown in the accounts at a certain date, the nature and evidence of which vary depending on the inherent risk and control risk.

In addition to customers and suppliers, this procedure also covers banks and insurance companies, commodity depositories and leasing companies, agents, lawyers and tax advisors as well as consultants in general.
With the balance confirmation procedure, numerous audit objectives can be met, including: 
  • the existence requirement, as you obtain direct confirmation from a third party; 
  • the valuation requirement, in that any disputes, returns and claims not accounted for in the financial statements can be identified; 
  • the requirement for the legitimacy of rights and obligations; 
  • the requirement of the principle of competence. 
However, it must be remembered that this confirmation can never provide all the necessary evidence regarding the assessment of the debtor's solvency.
Ask MTF!
The procedure can be initiated by means of a standard text, to be drafted on company letterhead: 
All PBs that have balance at a preset date are extracted. The information is taken from the SAP database, so the data can be verified by printing the verification balance at the preset date.
]]>Mon, 27 Sep 2021 12:16:00 +0200<![CDATA[Turn anonymous visitors into loyal customers]]>https://en.mtf-srl.com/blogs/post/circularization-letters-with-sap1MTF has implemented a function to print circularization letters in SAP]]>

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Source: https://www.sap.com/italy

]]>Mon, 27 Sep 2021 12:16:00 +0200<![CDATA[Letters of circularization with SAP]]>https://en.mtf-srl.com/blogs/post/letters-of-circularization-with-sapMTF has developed a feature for printing ​circularization letters in SAP Business One!]]>

MTF has developed a feature for printing 
​circularization letters in SAP Business One!

The circularisation is an audit procedure regulated by ISA Italia 505 "External Confirmations" and commented on in the document "The application of international auditing standards (ISA Italia) to smaller companies", which consists of requesting confirmation of the balance resulting from the accounts at a certain date, the nature and probative elements of which vary according to the intrinsic and control risks.

The parties to be subjected to this procedure are, in addition to customers and suppliers, banks and insurance companies, goods depositaries and leasing companies, agents, lawyers and tax experts as well as consultants in general.


Numerous audit objectives can be met with the confirmation of balances, among others: 


  • the requirement of existence, as direct confirmation is obtained from a third party; 
  • the requirement of assessment, since any disputes, returns and complaints not considered in the financial statements can be identified; 
  • the requirement of legality of rights and obligations; 
  • the requirement of the accrual principle. 


It should be borne in mind, however, that this confirmation can never provide all the necessary evidence of the debtor's solvency.
Ask MTF!
The procedure can be initiated by means of a standard text, to be written on company letterhead: 
All BPs that have a balance on a preset date are extracted. The information is taken from the SAP database, so that the data can be verified by printing out the audit balance on the preset date.
]]>Thu, 25 Mar 2021 09:14:00 +0100