In the third line from below for the second news report dated August 11, 2020 it is stated that AFTAAS had failed to comply with auditing standards for fundamental and basic audit procedures for several important financial statement items. It may perhaps be surmised that such procedures are those concerned with Phase II as opposed to the more demanding audit procedures for the Phase III of the three audit phases forming the complete audit process which an auditor would need to perform in an audit done to corporate financial statements. Among those audit procedures that are normally included in Phase III is for the auditor to obtain the so called management representation letter from the company that it audits. This audit procedure cannot be mistaken with the one where the auditor issues a so called management letter to the management. What is meant as a management representation letter? Why is it necessary for an auditor to ask the company to provide it with the letter?