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| Author: | Carey, P. J. Clarke, B. |
| Title: | An Investigation of Australian Auditors' Use of the Management Representation Letter |
| Journal: | British Accounting Review
2001 : MAR, VOL. 33:1, p. 1-21 |
| Index terms: | AUSTRALIA AUDITORS MANAGEMENT |
| Language: | eng |
| Abstract: | Results from this exploratory survey confirmed that auditors' use of the representation letter to obtain audit evidence was generally consistent with the professional guidance, but two anomalies were noted. First, one-third of respondent auditors did not use the letter to provide sole audit evidence. Second, there was evidence that some auditors use management representations as sole audit evidence when other appropriate audit evidence is available. Finally, results showed that most auditors use the representation letter to inform management of their responsibilities. This informative use is consistent with professional guidance and with the corporate governance literature that recommends clarifying management's understanding of their responsibilities and enhancing management's sense of accountability. |
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