AS 2805, “Management Representations,” of the PCAOB’s auditing standards documents the nature and purpose of a letter of representations (“management representation letter” is the actual phrase used in this context). The corresponding section of the AICPA Professional Standards is AU-C Section 580, “Written Representations.” AS 2805 mandates that U.S. auditors obtain “written representations from management” (AS 2805.01) and notes that such representations are “part of the evidential matter” (AS

Answer rating: 100% (QA)

Introduction 01 This section establishes a requirement that the independent auditor obtain written representations from management as a part of an audit of financial statements performed in accordance ... View the full answer