Just wondering if any internal auditors out there send loan or deposit confirmations by email or text? Not sure what the compliance implications would be, but seems like a much more efficient way to obtain this information
soundbank,
See sections .28 and .29 of that standards that Randy linked for you. While "silent" on specific sending methods (like text or email) the standards do state that is it important to "establish{ing} direct communication between the intended recipient and the auditor to minimize the possibility that the results will be biased because of interception and alteration of the confirmation requests or responses."
I do not send confirmations (nor verifications) via text or email. I still use USPS. In recent years, I have been receiving more and more confirmations from confirmation[dot]com, though I have not used it to send them out.