April 2018
Beginner to intermediate
880 pages
28h 54m
English
| Source | Statement on Auditing Standards (SAS) 122. |
Source: AU-C 580.07
AU-C Section 580.06 states that:
…the objectives of the auditor are to
- obtain written representations from management and, when appropriate, those charged with governance that they believe that they have fulfilled their responsibility for the preparation and fair presentation of the financial statements and for the completeness of the information provided to the auditor;
- support other audit evidence relevant to the financial statements or specific assertions in the financial statements by means of written representations if determined necessary by the auditor or required by other AU-C sections; and
- respond appropriately to written representations provided by management and, when appropriate, those charged with governance or if management or, when appropriate, those charged with governance do not provide the written representations requested by the auditor.
Management representation letters are audit evidence, and they serve to: