That hereafter, whenever practicable and reasonable, and where the aggregate amount of notes and accounts receivable represents a significant portion of the current assets or of the total assets of a concern, confirmation of notes and accounts receivable by direct communication with the debtors shall be regarded as generally accepted auditing procedure in the examination of the accounts of a concern whose financial statements are accompanied by an independent certified public accountant's report, and that the method, extent, and time of confirming receivables or a part thereof, be determined by the independent certified public accountant as in other phases of procedure requiring the exercise of his judgmentl

Reviews the book "Accounting for Control and Decisions," by Arthur Holmes, Robert Meier and Donald Pabst.