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Forums › ACCA Forums › ACCA AAA Advanced Audit and Assurance Forums › evidence of representation
we know that representations should be obtained for subjective matters while gathering evidence. Should such representations be obtained in respect of fair value classification as per IAS 16?
There is no fair value classification in IAS 16. If the revaluation model is used it is applied to an entire class of assets – and the auditor should be able to obtain evidence other than management representation that that is the case. What sort of representation are you thinking of?
