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As per my knowledge, engagement letter is from auditor to client(but signed by whome)?
Confirmation letter is written by auditor to 3rd party (but signed by whome)?
Managemnt letter is the letter of deficiencies/weakness from auditor to client and signed by whome ?
Managemnt representation letter is from client to auditor ,signed by whome ? Mostly written representations matters are discussed in MRL right?
And in engagement letter ,all three letters are mentioned ? Kindly highlight where am i wrong and also do answer relating to authorisation of them ? Thankyou .
A letter of engagement is sent by the auditors to the client. It is signed by the auditors. Often, there are two copies and the client should counter-sign one and sent if back to the auditor (like a contract). Otherwise they could send a letter confirming the arrangements.
The management letter is sent by auditors to client and is signed by the auditors.
The management representation letter is signed by the client and sent to the auditor. It contains written representations by the client (eg that all liabilities have been included in the FS).
The three two letters (management letter and letter of representation) could well be mentioned in the engagement letter.
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