Management Representations Flashcards Preview

AUD > Management Representations > Flashcards

Flashcards in Management Representations Deck (7)
Loading flashcards...
1

Is the auditor required to obtain a management representation letter?

Yes

2

Failure to obtain a rep letter is a?

Scope limitation

3

What does the client assert in a management rep letter?

That all material matters have been adequately disclosed to the independent auditor

4

When is the rep letter obtained?

At the end of the audit

5

Management's refusal to furnish a rep letter generally results in a?

Disclaimer of opinion or withdrawal from audit

6

What date should be on the management rep letter?

Same date as the audit report

7

Who must sign the rep letter?

Members of management with overall responsibility for financial and operating matters