One of the Purposes of a Client Representation Letter Is

question 13

Multiple Choice

One of the purposes of a client representation letter is to

• A)reduce the amount of audit procedures performed by the auditor.
• B)document the responses from management to inquiries about various aspects of the audit.
• C)serve as audit evidence for the accuracy of the contingent liabilities.
• D)reduce the detection risk.

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Definitions:

Decision Management

The process of making business decisions through repeatable and manageable methodologies, often aided by specialized software.

Standard Costs

Predetermined costs for materials, labor, and overheads used as benchmarks to evaluate actual production or manufacturing costs.

Printer Supplies

Items and consumables such as ink, toner, paper, and maintenance kits needed for the operation of printers.

Academic Term

A period of study in an educational institution, often divided into semesters, trimesters, or quarters.