Management Representation Letter
Obtaining Written Representations
Before issuing the audit report, auditors obtain a written representation letter from management confirming responsibility for the financial statements and affirming important matters discussed during the audit.
- Management is responsible for preparing the financial statements.
- All relevant information has been provided to the auditor.
- Known fraud and legal matters have been disclosed.
- All uncorrected misstatements have been communicated.
Note
The management representation letter complements other audit evidence but does not replace it.
Summary
Written representations provide important evidence regarding management's responsibilities and disclosures.