ASA/ISA580 - what sort of WRITTEN REPRESENTATIONS do auditors need from management

Auditors must obtain a representation letter from management.
If you have questions about ASA/ISA 580, add them in the comments below.
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[@newlife4148]

You are best Auditing lecture in the world.
Its amazing how you explain short & sweet

[@amandalovestoaudit]

Thank you 🙏😊

[@Am00973]

"investigated by the police" lol that was funny Amanda

[@Melluh_M]

Thanks Amanda

[@amandalovestoaudit]

You’re welcome Melusi ☺️

[@mansokanu4]

Good afternoon on my side.
I'm confused between materiality and accepted audit risk, I do mix them up.

[@dancanonyango06]

Hi,, reasons for discussing the contents of the letter of representations with the directors

[@buredtx]

SA 570 and SA 580 double (same) video uploaded.

[@amandalovestoaudit]

oh crap! Let me try and fix that!

[@amandalovestoaudit]

I'm back - I copied across the Description without updating it - hopefully it is fixed now - but it definitely appears to be the correct video.

[@buredtx]

@@amandalovestoaudit videos and description is correct, only problem is you have upload 2 videos of SA 570 and SA 580(duplicate). Check playlist for auditing standards explained!!

[@mahlz1]

isn't it supposed to be the way round? as in its the external auditor that writes the letter of representation then include all those requirements highlighted and then give the senior management to sign agree to everything in the letter ? or maybe there is a difference between the written representation and the letter of representation

[@amandalovestoaudit]

The management letter is one written by the auditors TO management.
This standard refers to management confirming their verbal representations in written form.

[@mahlz1]

@@amandalovestoaudit So can this standard coexist with management letter? And if it can how does it coexist?...it is that the Auditor uses written representation from the Standard then write the Management letter? Or ...how just let me not confuse myself please correct me 🙏

[@amandalovestoaudit]

Hi - yes they can co-exist and must!
The mgmt representation letter is actually a piece of audit evidence. We get it from mgmt and use it to confirm our understanding of verbal discussions.
Then later - at the end of the audit, we write the management letter - which is more like a summary of our audit findings, especially internal control weaknesses.