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What is difference between management letter and management representation letter?
When management letter is sought?Management letter (aka letter of weakness, letter of recommendation) is sent by the auditor to the management pointing out those areas where the auditor has identified a potential weakness, or where errors in controls or accounting have been discovered.
It happens at the end of each stage of a company auditor’s visit
Management representations (no longer called this – they are now referred to as “written representations”) are requested by the auditor asking management to confirm in writing those oral statements made to the auditor during the course of the audit in response to the auditor’s questions. they are one of the very last stages in the course of an audit before the auditor goes back to the office and presents the file for review by the audit manager and then further by the audit partner
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