Written Representation Flashcards
1
Q
What is written representation?
A
A letter signed by company director prior to the completion of audit work, before the audit report is signed
2
Q
What does written representation include?
A
Confirmation that management have:
Fulfilled responsibility for prep of FS in accordance with framework
Provided auditor with relevant info
Recorded and reflected all transactions in FS
Acknowledge aggregated uncorrected misstatements are immaterial to FS
3
Q
When is other written representation required?
A
When there are concerns over competence, integrity, ethical values and diligence of management
Representation is inconsistent with other audit evidence
