"There have been no communications from regulatory agencies concerning noncompliance with or deficiencies in, financial reporting practices that could have a material effect on the financial statements." The foregoing passage is most likely from a
A) Report on internal control.
B) Special report.
C) Management representation letter.
D) Letter for underwriters.

Question

Quizplus · Accepted Answer

This is most likely from a management representation letter, which is a letter from a company's management to its auditors that confirms various assertions about the financial statements, including the absence of communications from regulatory agencies concerning noncompliance or deficiencies in financial reporting practices.

"There Have Been No Communications from Regulatory Agencies Concerning Noncompliance