Multiple Choice
The management representation letter is used:
A) by the auditor in lieu of audit testing in cases of scope limitation.
B) by the auditor as evidence that management understands its responsibility for the financial statements and internal control environment.
C) by the auditor as its sole defense in case of lawsuits arising from an audit failure.
D) All of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Q6: An auditor is responsible for communicating which
Q7: The client includes which of the following
Q8: Under which circumstances should an auditor NOT
Q9: Audit Standard (AS) number 5 addresses the
Q10: Explanatory language is always necessary if the
Q12: A client decides to change accounting procedures
Q13: The audit report must contain explanatory language
Q14: Dillon is auditing Byrne Corp., a public
Q15: A SAS 8 review:<br>A) requires auditors review
Q16: As part of the wrap-up procedures, Mary