Question

"There are no violations or possible violations of laws or regulations whose effects should be considered for disclosure in the financial statements or as a basis for recording a loss contingency." The foregoing passage most likely is from a(an)

A. Client engagement letter.
B. Report on compliance with laws and regulations.
C. Management representation letter.
D. Attestation report on internal controls.

Answer 1

Answer:

C. Management representation letter

Explanation:

Is a letter by a companies external auditors to the company or manager stating the accuracy of the financial statement handed in. That form of accuracy is stated above, "There are no violations or possible violations of laws or regulations whose effects should be considered for disclosure in the financial statements or as a basis for recording a loss contingency."