Completion of the Audit

Management Representation Letter

The management representation letter obtained by the audit senior on the last date of field work, February 10^th, 2020. The letter was signed by both the CEO and CFO.

Sign Off

After considering these various issues, you decide to write a memo to the engagement partner, with a copy to the managing partner of the firm, expressing your views on these matters and what needs to be done before you are prepared to sign off on the engagement.

REQUIRED

Part B (3 marks) List one (1) major deficiency in the work performed in the completion of the audit and explain the nature of the deficiency. Provide recommendations regarding further actions and/or audit procedures.