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  • What is included in the management responsibility section of a written representation letter?

    In the “Management Responsibility” section, the auditor should request written representations from management with appropriate responsibilities for the financial statements and knowledge of the matters concerned. The auditor should request management to provide a written representation that it has fulfilled its responsibility, as set out in the terms of the audit engagement. 1) For the […]

  • What is a management representation letter?

    A “rep” letter is the audit teams’ formal evidence that management understands their responsibilities and that management has performed all of their responsibilities. Management should provide the auditor with a representation letter in writing that outlines the following characteristics: A) Managements acceptance for its responsibility in the establishment and maintenance of an effective internal control […]