• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

Management representation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Management representation

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by Ken Garrett.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • January 30, 2016 at 7:30 pm #298592
    fazeel93
    Member
    • Topics: 71
    • Replies: 49
    • ☆☆

    Are management representation letters and other documentations like protection from negligence claim for auditors ? Specially in a situation where for example auditors were not able to detect a fraud but relied on management representation ? Is there any action on auditor in this situation

    January 31, 2016 at 10:30 am #298707
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10595
    • ☆☆☆☆☆

    The letter of representation does not substitute for other types of audit evidence except where no other type of evidence is available eg the intentions of management might be firmly locked in their brains.

    The main purpose of letters of rep is to focus management’s attention eg that all liabilities have been included etc. I suppose there might be some protection form negligence claims but this would be a weak defence. The audit conclusions should not rest on management representations otherwise you could cut the audit down to just asking the directors if the FS show a T&F view!

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • Salimbek909 on The nature and structure of organisations – ACCA Paper BT
  • Sefater on Chapter 3 – Property Income and Investments – Individuals TX-UK FA2023
  • adityachaudhry on Discounted cash flow techniques (part 3) – ACCA (AFM) lectures
  • nuripamir on ACCA Administrative Review
  • Jherddie on CIMA E3 Chapter 8 Test

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in