[cytutor]

if you look at the examiner’s March 2017 report it clearly states that you should mention:
-> the area of the accounts impacted with an assertion (e.g. cut-off or valuation) OR
-> make reference to under/over/misstated account OR
-> make reference to the type of risk identified (e.g. inherent, control or detection risk)

So depending on the scenario provided and the exact risk identified you would explain accordingly.

[cytutor]

I would say that these are the same; refers to procedures the auditor would perform in response to the risk assessment results. right?

[cytutor]

note that written representations you obtain are a part of your audit evidence. So just like all other pieces of audit evidence you obtain in order to be in a position to provide an opinion on the financial statements; strictly speaking this also needs to be obtained the latest by the sign off of your audit report. It’s best practice that you obtain the rep letter signed the same date as the audit report in order to avoid the need to perform additional audit tests for subsequent events between the date of the audit report and the date of the written representations obtained.
hope this clarifies.

[Author]

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