True or False

65. Analytical procedures performed as substantive procedures help the auditors in obtaining an understanding of the client's business and may direct the auditors' attention to potential problems and to areas requiring special investigation

66. Analytical procedures applied at the overall review stage of an audit provide an overview of the final audit figures. This final application is to provide assurance that the end results of the audit "make sense.

67. Representation letters should be prepared on the client's letterhead and signed by the Audit Partner.

68. In most cases the CPAs will draft the representation letter but the officers or employees must accept the statements in the letter as their own representations.

69. It is important that the representation letter be signed by one or more officers or responsible employees who are knowledgeable about the particular area or activity reported upon.

70. Since the representation letter refers to events occurring in the subsequent period, it is appropriate that the letter be signed, dated, and delivered to the auditors on the last day of field work.