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Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder
Edition 9ISBN: 978-0130459206Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder
Edition 9ISBN: 978-0130459206 Exercise 14
Arenas, an assistant accountant with the firm of Gonzales Ramirez, CPAs, is auditing the financial statements of Tech Consolidated Industries, Inc. The firm's audit program calls for the preparation of a written management representation letter.
Required:
a. In an audit of financial statements, in what circumstances is the auditor required to obtain a management representation letter? What are the purposes of obtaining the letter?
b. To whom should the representation letter be addressed, and when should it be dated? Who should sign the letter, and what would be the effect of his or her refusal to sign the letter?
c. In what respects may an auditor's other responsibilities be relieved by obtaining a management representation letter?
(AICPA, adapted)
Required:
a. In an audit of financial statements, in what circumstances is the auditor required to obtain a management representation letter? What are the purposes of obtaining the letter?
b. To whom should the representation letter be addressed, and when should it be dated? Who should sign the letter, and what would be the effect of his or her refusal to sign the letter?
c. In what respects may an auditor's other responsibilities be relieved by obtaining a management representation letter?
(AICPA, adapted)
Explanation
Verified
Verified
b.
The representation letter should be ...
Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder
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