AU-C Section 505 defines key terms pertaining to external confirmations, and establishes requirements for designing, performing and evaluating the results external confirmation procedures. This section supersedes AU Section 330, The Confirmation Process. It became effective for audits of financial statements for periods ending on or after December 15, 2012. After taking this course, the reader should be able to: Define significant terms pertaining to external confirmations; Describe procedures for designing and performing external confirmations; Describe procedures for evaluating the results of external confirmations.