Refer to Exhibit, Management Representation Letter Example from AU-C 580. What role does materiality play in the

Question:

Refer to Exhibit, "Management Representation Letter Example from AU-C 580." What role does materiality play in the contents of the management representation letter? Is the same level of materiality applied to the audited as to the management representation letter?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...