[Anonymous]

The date of the management representation letter should coincide with the

A. Date of the auditor’s report.

B. Balance sheet date.

C. Date of the latest subsequent event referred to in the notes to the financial statements.

D. Date of the engagement agreement.

Answer A. This answer is correct because the representation letter should be dated as of the date of the auditor’s report.

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If management refuses to furnish the representation letter, isn’t that a reason to withdraw from the engagement? If so, then how can the representation letter be dated the same as the auditor’s report?

[acamp]

They are rep'ing to all sorts of things in the mgmt rep letter. Including subsequent events and a host of other items, as such, the auditor wants management's representation to go through the audit report date. That is, if management's rep letter is dated earlier, there is a gap in coverage between the rep letter and the audit report date. What date were you thinking it should be?

Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

Becker Videos: [AUD - 82]

California CPA

[Skynet]

The Management Representation Letter is usually the last thing the Auditor ask for to complement the Audit Evidence findings during the Audit. It doesn't necessarily have to be dated as the Auditor's report but close to it. If Management does not or refuse to provide one, then the Auditor will Disclaim or Withdraw from the engagement, or if permitted a Qualified Opinion may be allowed depending on the circumstances.

[elprezidente07]

In practice, you call management and say we are ready to date the report as of the day you return the signed management letter. If you make that call on Tuesday, and they date the letter Wednesday, your report date becomes Wednesday. Just because you date a report as of a particular day doesn't mean it gets delivered that day as well. Without a rep letter, you wouldn't issue a report at all, despite having done all the work. You may consider disclaiming an opinion, but that would be rough.

AUD // F x2 P 92- (Test server crashed! It really does happen!)
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BEC // P - 80
FAR // F, F...now its time for my greatest trick yet.
Ethics // Very.

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[Author]

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