A major objective of written representations is to a. Shift responsibility for financial statements from the management

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A major objective of written representations is to
a. Shift responsibility for financial statements from the management to auditors.
b. Provide a substitute source of audit evidence for substantive procedures that auditors would otherwise perform.
c. Provide management an opportunity to make assertions about the quantity and valuation of the physical inventory.
d. Impress on management its ultimate responsibility for the financial statements and disclosures.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Auditing and Assurance Services

ISBN: 978-0077862343

6th edition

Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws

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