The answer is not A…why?
Which of the following statements is false with respect to management representation letters on a review engagement?
A.The accountant need not be in physical receipt of the management representation letter as of the date of the accountant's review report.
B.The letter should be signed by those members of management whom the accountant believes are responsible for and knowledgeable about the matters covered in the representation letter, normally the CEO and CFO.
C.If the current management was not present during all periods covered by the accountant's report, the accountant should nevertheless obtain written representations from current management on all such periods.
D.The accountant acknowledges his or her responsibility for the fair presentation in the financial statements of financial position, results of operations, and cash flows.
FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂