Communiquez avec les autres et partagez vos connaissances professionnelles

Inscrivez-vous ou connectez-vous pour rejoindre votre communauté professionnelle.

Suivre

Management representations might take the form of letter from the auditors acknowledged and signed by directors. True or False?

user-image
Question ajoutée par Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date de publication: 2016/02/16
Fathi Matbaq
par Fathi Matbaq , Senior Purchasing Officer , Alghanim Industries

False, because management assertions are directly related to generally accepted accounted principles or IFRS, as they are part of the criteria that management uses to record and disclose accounting information in financial statements. In other word, management representation is already provided along with all financial statements prepared by them.

Abu Bakar Ashfaq
par Abu Bakar Ashfaq , Senior Consultant , PricewaterhouseCoopers Middle East

Its false. As per ISA 580 definitions,  written representation should be provided by management to the auditor. 

More Questions Like This