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Basic Elements of a Management Representation Letter
Whenever requesting a management representation letter, such the auditor would request which it be addressed to the auditor, include specified information and be suitably dated and signed.
A management representation letter would ordinarily the same date be dated as the auditor's report. Conversely in certain circumstances, a split representation letter regarding particular transactions or other events may be obtained in period of the course of the audit also or on a date after the date of the auditor's report, as for example, at the date of a public offering.
A management representation letter would usually be signed through the members of management who such have primary responsibility for the entity and its financial aspects as usually the senior financial officer and the senior executive officer based on the best of their belief and knowledge. In convinced circumstances, the auditor may consider to obtain representation letters from management's other members. For example, the auditor may believe to obtain a written representation for the completeness of all minutes of the meetings of the board of directors and of shareholders and essential committees from the specific responsible for remaining which minutes.
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