What are the major purposes of obtaining representation letters from audit clients?

11.

The major purposes of obtaining a client representation letter include:

Select one:
a.  To document in the audit working papers the client's responses to many questions asked by the auditors during the engagement
b.
All of the mentioned is correct

 c.  To remind the client officers of their primary responsibility for the financial statements
d. To provide evidence in areas where accounting presentation may be dependent upon management's future intentions.

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What is the purpose of an audit representation letter?

A management representation letter is a form letter written by a company's external auditors, which is signed by senior company management. The letter attests to the accuracy of the financial statements that the company has submitted to the auditors for their analysis.

What is purpose of obtaining management representation letter at the completing stage of audit?

Answer and Explanation: The auditors obtain representation letters to confirm that they adhere to the accuracy of providing reliable information. It also states the management's responsibilities towards the auditing of financial statements.

What is the primary purpose of obtaining management representations?

It serves to document management's representations during the audit, reducing misunderstandings of management's responsibilities for the financial statements. For audit evidence, it is reliable if the auditor has no other means of obtaining evidence.

What is a client representation letter in audit?

The Representation Letter is a letter from the Association to our firm confirming responsibilities of the board and management for the financial statements, as well as confirming information provided to us during the audit.

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