In reviewing the bank reconciliation prepared by the client, the auditor finds a "miscellaneous reconciling item." From discussion with the client, the auditor is told that this relates to foreign exchange fluctuations. The auditor should:

try to find what constitutes the difference personally.

ask the client to provide a detailed schedule of the amounts that make up this variance for subsequent review.

accept the client's explanation, provided it is also noted in the management representation letter.

accept the client's explanation.