The date of the management representation letter received from the client should
A) be the date of latest subsequent event disclosed in the notes to the financial statements.
B) be dated no earlier than the date of the audit report.
C) have the same date as the date of the balance sheet.
D) have the same date as the date of the engagement letter.

Question

Quizplus · Accepted Answer

The management representation letter should be dated no earlier than the date of the audit report to ensure that it is current and relevant to the audit opinion being issued. Option A is incorrect because the date of the latest subsequent event disclosed in the notes is not necessarily the same as the date of the management representation letter. Option C is incorrect because the date of the balance sheet is not necessarily the same as the date of the management representation letter. Option D is incorrect because the date of the engagement letter is not relevant to the date of the management representation letter.

The Date of the Management Representation Letter Received from the Client