AUD Question> I don't understand this.

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  • July 16, 2014 at 5:55 pm #187011
    Peanut Butter is Good
    Participant

    How can the management representation letter have info on subsequent events if it is issued at the same date as the balance sheet?

    AUD - 84
    BEC - 88
    FAR - 81
    REG - 79
    If I passed so can you!!
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  • July 16, 2014 at 6:04 pm #581216
    NYCaccountant
    Participant

    That's wrong, The management Rep letter is usually dated the same date as the Auditors report. This is obviously probably a couple months after the balance sheet date, so yes, management can provide representations on subsequent events by then.

    AUD - 99
    BEC - 84
    FAR - 93
    REG - 87
    NYC born and raised.

    FAR - 93
    REG - 87
    BEC - 84!!!!
    AUD - 99!!!!!! CPA exam complete.

    July 16, 2014 at 6:04 pm #581217
    Anonymous
    Inactive

    The date of the rep letter must not be later than the date of audit work completion. In other words after the balance sheet date but not before the completion on the audit. The audit report and the letter usually coincide.

    July 16, 2014 at 6:08 pm #581218
    Peanut Butter is Good
    Participant

    Man, I'm losing it (too much MCQ studying)

    Thanks guys!!!

    AUD - 84
    BEC - 88
    FAR - 81
    REG - 79
    If I passed so can you!!
    July 16, 2014 at 7:38 pm #581219
    Peanut Butter is Good
    Participant

    Hey NYC Accountant, I'm actually taking AUD the same day as you, in NYC. 3rd Avenue. What a coincidence.

    AUD - 84
    BEC - 88
    FAR - 81
    REG - 79
    If I passed so can you!!
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