Carrie and her supervisor Michael, an audit manager assigned to the attestation engagement of Southwood Enterprises are discussing management letters. Carrie advises Michael that she understands what a management letter is$,$ but isn't really sure of what benefits sending such a letter provides for the auditors. What is the most appropriate response by Michael to this question?

Upon sending management letters to a client's senior management, the auditors are able to gauge management's response to any notable items, which provides a measure of how management prioritizes internal control.

Auditing firms typically spend a considerable amount of time carefully crafting management letters, as this can be used to increase the number of billable hours associated with the audit.

The auditors typically send management letters to the client's senior management to confirm that upon receipt of the auditors assessment of internal control, management will work to eliminate all potential misstatements caused by any deficiencies or weaknesses.

One of the benefits to the audit sending a management letter is$.q,$ doing, the client is accepting any and all legal liability for misstatements in the