The management representation letter _______.
A) can sometimes serve as a substitute for certain audit procedures that were not able to be performed
B) is a letter from management to the auditor acknowledging management's responsibility for the preparation of the financial statements
C) is a letter from the auditor to management acknowledging management's responsibility for the preparation of the financial statements
D) should only be sent to the client's legal counsel; not directly to the client
Correct Answer:
Verified
Q63: What is the going concern assumption?
A)The viability
Q64: With respect to the going concern assumption,
Q65: _ are used near the end of
Q66: An example of a factor that mitigates
Q67: According to Generally Accepted Accounting Principles (GAAP),
Q69: The final step for the auditor to
Q70: The written representation from management _.
A)supplements the
Q71: If auditors determine there is substantial doubt
Q72: The assumption that relates to the entity
Q73: With respect to the going concern assumption,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents