Written Representations & Completing the Audit

One-minute revision

• Rep letter: required, dated as of the auditor's report date, covers all periods reported on, signed by CEO/CFO
• Refusal to sign rep letter → disclaimer or withdrawal (not merely qualified)
• Attorney refusing to respond → scope limitation → qualified or disclaimer
• Auditor actively searches for subsequent events only up to the report date
• After report date: no duty to search, but must act on facts learned
• Required at completion: final analytics, unrecorded liability search, going concern evaluation, uncorrected misstatement evaluation