Question

A major objective of written representations is to

a. Shift responsibility for financial statements from the management to auditors.
b. Provide a substitute source of audit evidence for substantive procedures that auditors would otherwise perform.
c. Provide management an opportunity to make assertions about the quantity and valuation of the physical inventory.
d. Impress on management its ultimate responsibility for the financial statements and disclosures.

Answer 1

Answer:

option D - Impress on management its ultimate responsibility for the financial statements and disclosures.

Explanation:

Correct answer is option D:

The written representations  are  written statements made by management team explaining about the distinct  topics  and  also  used as  audit evidence.

This  document  taken as supporting document which is used to confirm other audit. The auditor managed the list of representation to be signed  by client.