The directors of a company are in the process of appointing the first statutory auditor of the company. They have requested your firm to submit a proposal for the statutory audit assignment. …
You work as assistant manager in one of the leading firm of chartered accountants. Your partner has asked you to prepare a presentation for some of the newly recruited staff. …
Briefly highlights the management responsibilities relating to the financial statements The management responsibilities in relation to the financial statements include the following: 1. The overall responsibility for the preparation and …
(a) Classification of certain items reported in the financial statements is based on the management’s intentions. In such a situation the auditor has to rely on management representations. Required: List the factors …
Management Representation to Auditor and its Reliability As part of the audit process, the management provides written representations to confirm certain matters in connection with the audit. Required: (a) State …