Question 9 A management representation letter should include all of the following except

Group of answer choices

a statement about unasserted claims.

a statement about related party transactions.

a statement about future plans that might affect the values of assets as reflected in the financial statements.

a statement that management is financially responsible for the impact of illegal acts committed by employees of the company.

Which of the following events would require an adjustment to your audit clients books for calendar year 20X1

Group of answer choices A lawsuit filed against the company in 20X1 is settled on February 2, 20X2 for an amount that is less than the amount accrued in the financial statements for 20X1. A customer slips on an icy sidewalk on the companys premises on January 5, 20X2 and files a lawsuit against the company on January 10, 20X2. Another company files a patent infringement lawsuit against your client on January 4, 20X2 for an action that allegedly occurred early in 20X1. The companys attorney could not provide an estimate of the amount of loss, but believes that the plaintiff may have a strong legal case. A tornado struck one of the company's buildings in 20X2 before the financial statements were issued.