Obtaining a management representation letter is an optional audit procedure.
Correct Answer:
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Q1: Many public accounting firms have detailed financial
Q2: GAAS does not specify specific auditing requirements
Q3: The ultimate responsibility for summarizing and evaluating
Q4: Gain contingencies present very little problem to
Q5: As aggregate likely misstatement increases, the risk
Q7: A rep letter may complement other auditing
Q8: Management's refusal to furnish written representations may
Q9: When material, type 1 subsequent events require
Q10: If, after considering identified conditions and management's
Q11: Analytical procedures performed during the final review
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