The auditing standards suggest that management representations are acceptable audit evidence where other sufficient appropriate audit evidence:
A) cannot reasonably be expected to exist.
B) can reasonably be expected to exist.
C) has not been furnished to the auditor.
D) management representations are never appropriate audit evidence for financial statement assertions.

Question

Quizplus · Accepted Answer

Management representations can serve as acceptable audit evidence when other sufficient appropriate audit evidence cannot reasonably be expected to exist. This is because, in some cases, certain information may only be available or verifiable through management's representations.

The Auditing Standards Suggest That Management Representations Are Acceptable Audit