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Dear Sir ,
It is appropriate to write first procedures as ( Obtain written representation to confirm that related party disclosure has been made in f/S ) and then second procedures write as ( Review disclosure made regarding related party transaction in draft f/S to verify their sufficiency ) ?
Because I have question in mind to first obtain written representation and after that review might be appropriate ?
I see second procedure in stand answer but first procedure write by me .
Written representation always comes last – think of it as the “icing on the cake” – the auditor must weigh up all the evidence that has been gathered and should only ask for written representation when required or necessary – never as a matter of routine.
Your first procedure may be to make enquiry/ask management – but this is not the same as obtaining a written representation that all related parties and RPTs have been disclosed to the auditor and, where relevant, in the notes to the financial statements.
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