Written Representation Flashcards
1
Q
What is the purpose of written representations
A
That management/those charged with governance acknowledge their responsibility for the preparation of the financial statements and have provided all relevant information for the auditor
All transactions have been recorded
ISA 580 Requires auditors to obtain written representation from management and where appropriate those charged with covenants. Written representations on necessary information that the auditors require and are all the evidence. However although they provide necessary all the evidence they are not sufficient or evidence on their own.
2
Q
When should a written representative be dated
A
It should be dated as near as possible to, but not after, the date of the auditors report
