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Audit risk

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Audit risk

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by AvatarKen Garrett.
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  • September 1, 2017 at 11:19 am #404837
    Avatarngaryitess
    Participant
    • Topics: 29
    • Replies: 40
    • ☆☆

    Is it possible to state ”Obtain written representation” as a response to an audit risk?

    September 1, 2017 at 3:54 pm #404878
    AvatarKen Garrett
    Keymaster
    • Topics: 10
    • Replies: 10660
    • ☆☆☆☆☆

    Written representations are always required. They could include matters relating to a specific audit risk. However, representations are a poor form of evidence and rarely stand on their own.

    Eg, not a lot is gained by having management,write to you stating that there are not expected to be any bad debts. Why not skip the other audit work and simply have the direcrors declare that the FS show a true amd fair view?

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  • The topic ‘Audit risk’ is closed to new replies.

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