Name Professor Course Code Date Written Representations Written representations are obtained on several occasions by the auditors as a source of evidence in their work (Louwers T. J). Auditors are tasked with the job of expressing an opinion as to whether the financial statements show a true and fair view of the financial position of the company and if the financial statements conform with the applicable financial reporting framework. They are obtained when an auditor needs further clarifications on activities happening in the F). REFERENCES Fredrick. D Auditor’s Representation and Retrieval of Internal Control Knowledge: The Accounting Review Vol 66 No. 2 (April 1991) pp. 240-258 Koonce Lisa; Walker Norman R; Wright William F. Auditing suppl. Audit Judgment Symposium; Sarasota Vol. 12 (1993): 57. Louwers T. J. (2015). Auditing and assurance services. New York: McGraw-Hill.LouwersMarden Ronald E; Edwards Randal K; Stout William D. The CPA Journal; New York Vol. 73 Iss. 7 (Jul 2003): 36. Vicknair David; Hickman Kent; Carnes Kay C. Accounting Horizons; Sarasota Vol. 7 Iss. 1 (Mar 1993): 53. Auditor independence [...]
Written Representations. Hart, an assistant accountant with the firm of Better & Best, CPAs, is auditing the financial statements of Tech Consolidated Industries Inc. The firm's audit plan calls for the preparation of written representations. Required: In an audit of financial statements, in what circumstances are auditors required to obtain written representations? What are the major categories of items covered by written representations? To whom should the representations be addressed and as of what date should they be dated? Who should sign the representations and what would be the effect of a refusal to sign them? In what respects may auditors' other responsibilities be relieved by obtaining written representations? 4 peer reviewed references Louwers, T. J. (2015). Auditing and assurance services. New York: McGraw-Hill.Louwers, T. J. (2015). Auditing and assurance services. New York: McGraw-Hill.