Dating management representation letter joyce maxwell dating
Here I post a management representation letter example.
We are providing this letter in connection with your audit(s) of the [identification of financial statements] of [name of entity] as of [dates] and for the [periods] for the purpose of expressing an opinion as to whether the [consolidated] financial statements present fairly, in all material respects, the financial position, results of operations, and cash flows of [name of entity] in conformity with generally accepted accounting principles.
the auditor has the responsibility to obtain written representations from management and, when appropriate, those charged with governance.
The written representations contemplated within AU-C 580 are deemed necessary as an integral part of fulfilling communication requirements in each financial statement audit.
In certain situations, auditors might need to disclaim an opinion on the financial statements or withdraw from the audit engagement when withdrawal from the engagement is possible under applicable laws or regulations.
The original standards on review engagements, which are still in effect, state that the review engagement report be dated on the date of substantial completion.
The public accountant expresses his or her conclusion on the financial statements and the financial statements are the responsibility of management.As discussed on my previous post [Audit Process for Nonpublic Audits] that SAS No.85, “Management Representations” (AU 333), requires that the auditor obtain written representations from management.We confirm that we are responsible for the fair presentation in the [consolidated] financial statements of financial position, results of operations, and cash flows in conformity with generally accepted accounting principles.Certain representations in this letter are described as being limited to matters that are material. Minutes of the meetings of stockholders, directors, and committees of directors, or summaries of actions of recent meetings for which minutes have not yet been prepared.5. Fraud involving management or employees who have significant roles in internal control. Fraud involving others that could have a material effect on the financial statements.7.