Auditors are required on every engagement to obtain a representation letter from the client. a. What are
Question:
a. What are the objectives of the client’s representation letter?
b. Who should prepare and sign the client’s representation letter?
c. When should the client’s representation letter be obtained?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
a The objectives of the clients representation letter are to 1 Remind the clients officers of their ...View the full answer
Answered By
William Otieno
I am a professional tutor and a writer with excellent skills that are important in serving the bloggers and other specialties that requires a great writer. The important aspects of being the best are that I have served so many clients with excellence
With excellent skills, I have acquired very many recommendations which have made it possible for me to survive as an excellent and cherished writer. Being an excellent content writer am also a reputable IT writer with essential skills that can make one turn papers into excellent result.
4.70+
83+ Reviews
354+ Question Solved
Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
Question Posted:
Students also viewed these Auditing questions
-
Consider the audit procedure to obtain a representation letter from the client at the end of the audit. The staff accountant on the engagement questions the necessity for this procedure, saying,...
-
Why does the auditor obtain a representation letter from management?
-
Auditors are required to obtain representation letters from the auditees lawyer to elicit information on claims and possible claims that may affect the financial statements. Required: a. Discuss the...
-
The truss ABC shown in the figure supports a horizontal load P1 = 300 lb and a vertical load P2 = 900 lb. Both bars have cross-sectional area A = 2.4 in.2 and are made of steel with E = 30 Ã...
-
If you could somehow replace the mercury in a mercury barometer with a denser liquid, would the height of the liquid column be greater than or less than the height of the mercury? Why?
-
The speed at which water travels in a pipe can be measured by directing the flow through an elbow and measuring the height to which it spurts out the top. If the elbow height is 10 cm, the equation...
-
Five liters/s of water enter the rotor shown in Video V5.10 and Fig. P5.83 along the axis of rotation. The crosssectional area of each of the three nozzle exits normal to the relative velocity is...
-
Mark Martinko has been a class A racquetball player for the past five years, and one of his biggest goals is to own and operate a racquetball facility. Unfortunately, Mark's thinks that the chance of...
-
Prior to beginning work on this discussion, please read about the Economic Value Added (EVA) and the Balanced Scorecard management systems on the websites of theCorporate Finance Institute (CFI) and...
-
Suppose you found a house that you want to buy, but you still have to determine what mortgage to use. Bank of Middle Texas has offered a 30-year fixed mortgage that requires you to pay 8 percent...
-
When analytical procedures disclose unexpected changes in financial relationships relative to prior years, the auditors consider the possible reasons for the changes. Give several possible reasons...
-
What would you accept as satisfactory documentary evidence in support of entries in the following? a. Sales journal. b. Sales returns journal. c. Voucher or invoice register. d. Payroll journal. e....
-
Using the same four main actors as in question 7-14, this time show with the arrows how the material (the water bottles and cages) moves.
-
what is Ford SUPPLIER risks in reference to risk identification, risk assessment and evaluation, selection of appropriate risk management, risk management strategies, implementation of supply chain...
-
What action/ steps can be employed to operationalize the program management practices or project portfolio management processes that are applied to navigate complexity? What challenges might be faced...
-
Q1: Explain in your words how you would use Hofstede's five cultural dimensions to navigate cross-cultural differences? Q 2. How can the five key core messages from the resource-based view of the...
-
What are three options that will take longer to implement if an organization practice receives a delinquency letter at 30 days post discharge and what are the pros and cons of implementing those...
-
What tactics will a buyer use to present arguments or defend against the other negotiator (seller)' for the purchase of a new product from a supplier? Can you provide simulation of the negotiation...
-
MTBE (methyl tert-butyl ether) has been used as an additive in gasoline. The compound is produced by reacting methanol and isobutene, according to the following equation: If 45.0 kg of methanol is...
-
Derive Eq. (18.33) from Eq. (18.32).
-
Identify your key selling points for the job application process.
-
What should the auditor do when a significant period of time has elapsed between the service organization auditors report and the date of managements assessment?
-
Distinguish between generalized and custom audit software. List the functions that can be performed by generalized audit software.
-
Multiple- Choice 1. The Sarbanes- Oxley Act of 2002 requires management to include a report on the effectiveness of ICFR in the entitys annual report. It also requires auditors to report on the...
-
The increasing volatility in the global economy has caused investors to seek out safer investments alternatives. Risk is inevitable in all investments. A capital budget is used to help investors plan...
-
You invest 50% of your financial assets in the Vanguard Total Stock Market ETF (VTI) and 50% in the Vanguard Total Bond Market ETF (BND). VTI has an expected return of 8% and a standard deviation of...
-
You have found the car you would like to purchase. The negotiated price = $57,500 and you are taking out a loan with a 7.5% APR compounded monthly for 6 years. What are your monthly payments? Car...
Study smarter with the SolutionInn App