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    Management Representations (Continued) : Evidence - Module 3

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    Hazem El Sayed
    Management is required to provide written representations to the auditor as of the date of the auditor's report, usually signed by the CEO and CFO. If management refuses to provide a written representation letter, it constitutes a scope limitation preventing the auditor from issuing an unqualified opinion and may affect the auditor's assessment of other information provided. Working papers demonstrate the auditor's adherence to fieldwork standards and include documentation to assist in conducting and supervising the audit, with permanent files maintaining information of long-term significance like debt agreements, pension contracts, articles of incorporation, internal control flowcharts, bond indentures, lease agreements, and analyses of capital stock and equity accounts.

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    Management Representations (Continued) : Evidence - Module 3

    Uploaded by

    Hazem El Sayed
    9 views2 pages
    Management is required to provide written representations to the auditor as of the date of the auditor's report, usually signed by the CEO and CFO. If management refuses to provide a written representation letter, it constitutes a scope limitation preventing the auditor from issuing an unqualified opinion and may affect the auditor's assessment of other information provided. Working papers demonstrate the auditor's adherence to fieldwork standards and include documentation to assist in conducting and supervising the audit, with permanent files maintaining information of long-term significance like debt agreements, pension contracts, articles of incorporation, internal control flowcharts, bond indentures, lease agreements, and analyses of capital stock and equity accounts.

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    SCA-070

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    Scan 0070

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    Management is required to provide written representations to the auditor as of the date of the auditor's report, usually signed by the CEO and CFO. If management refuses to provide a written representation letter, it constitutes a scope limitation preventing the auditor from issuing an unqualified opinion and may affect the auditor's assessment of other information provided. Working papers demonstrate the auditor's adherence to fieldwork standards and include documentation to assist in conducting and supervising the audit, with permanent files maintaining information of long-term significance like debt agreements, pension contracts, articles of incorporation, internal control flowcharts, bond indentures, lease agreements, and analyses of capital stock and equity accounts.

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    9 views2 pages

    Management Representations (Continued) : Evidence - Module 3

    Uploaded by

    Hazem El Sayed
    Management is required to provide written representations to the auditor as of the date of the auditor's report, usually signed by the CEO and CFO. If management refuses to provide a written representation letter, it constitutes a scope limitation preventing the auditor from issuing an unqualified opinion and may affect the auditor's assessment of other information provided. Working papers demonstrate the auditor's adherence to fieldwork standards and include documentation to assist in conducting and supervising the audit, with permanent files maintaining information of long-term significance like debt agreements, pension contracts, articles of incorporation, internal control flowcharts, bond indentures, lease agreements, and analyses of capital stock and equity accounts.

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    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
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    of 2

    Management Representations (continued)

    Written representations of management are addressed to the auditor


    ·1 Dated as of the date of the auditor's report
    Generally signed by chief executive officer & chief financial officer

    When management will not supply a written representation letter


    Constitutes a scope limitation
    Auditor precluded from issuing unqualified opinion
    May affect auditor's attitude toward other information supplied by management

    Focus on
    Evidence - Module 3
    142

    Working Papers
    Working papers are documentation of work performed
    ·2 Demonstrate auditor's adherence to the standards of fieldwork
    Assist the auditor in conducting & supervising the audit
    Working papers are maintained in permanent files & current files
    Permanent files relate to the company & contain information with long-term significance
    They are of ongoing interest in any period under audit & often include
    Debt agreements
    Pension contracts
    ·3 Articles of incorporation
    Flowcharts of internal control
    ·4 Bond indenture agreements
    ·5 Lease agreements
    ·6 Analyses of capital stock & owners' equity accounts

    Focus on
    Evidence - Module 3 143

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