Documentation of representations by management, Auditing

Assignment Help:

Documentation of Representations by Management

The auditor would ordinarily involve in audit working papers evidence of management's representations in form of a summary of oral discussions along with written or management representations from management.

A written representation is better audit evidence rather than an oral representation and can considered the form of as:

  1. A representation letter from management;
  2. A letter from the auditor outlining the auditor's considerate of management's representations along with duly acknowledged and confirmed through management; or
  3. Relevant minutes of the board of directors of meetings or a signed copy or similar body of the financial statements.

Related Discussions:- Documentation of representations by management

Timing of tests of control, Timing of Tests of Control - AUDITOR should per...

Timing of Tests of Control - AUDITOR should perform tests of controls over a period of time which is adequate to determine whether, as of the date specified in management's report,

Profesional ethic, Ask quesThe following situations involve a possible viol...

Ask quesThe following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Co

Records kept by auditor, Records kept by AUDITOR of procedures applied, tes...

Records kept by AUDITOR of procedures applied, tests performed, the information obtained and pertinent conclusions reached in the course of the AUDIT. (2) Any records developed by

Internal control systems, Internal Control Systems ISA 400: “Internal c...

Internal Control Systems ISA 400: “Internal control system” means all the policies and processes (i.e., internal controls) accepted by the management of an entity to assist in

Related party transactions, Related Party Transactions Related party t...

Related Party Transactions Related party transactions-a transfer of obligations or resources among related parties, regardless of whereas a price is charged. A party is rel

Audit procedures, audit procedure for shares or common stock

audit procedure for shares or common stock

Duties of an auditor in the stocktaking process, Problem: (a) Your cli...

Problem: (a) Your client has sought your advise on the procedures to be adopted for carrying out the stocktaking which is based on a year-end count. You are required to prepa

Non-attendance at stock takes, Non-Attendance at Stock Takes Whether t...

Non-Attendance at Stock Takes Whether the auditor is unable to attend a stock take, since he has numerous clients along with the same accounting date, or stock is situate at r

Audit Plan for small service company, only needs to be 2 - 3 pages and I ne...

only needs to be 2 - 3 pages and I need help with an audit plan is to look like

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd