ExpertEasy1 markMultiple Choice
CPA · Question 43 · Area 4: Reporting
An auditor is preparing a management representation letter. Which of the following dates should be used for the letter?
An auditor is preparing a management representation letter. Which of the following dates should be used for the letter?
Answer options:
A.
The balance sheet date.
B.
The date of the auditor's report.
C.
The date the financial statements are issued to the public.
D.
60 days after the balance sheet date.
How to approach this question
Rep Letter Date = Auditor Report Date.
Full Answer
B.The date of the auditor's report.✓ Correct
The management representation letter should be dated as of the date of the auditor's report. It confirms that management has fulfilled its responsibilities up to that point.
Common mistakes
Using the Balance Sheet date.
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