Provided by management to auditors.
Dated using date of auditors’ reports (audit completion date).
Broad purpose.
Impress upon management its primary responsibility for the financial statements.
May establish auditors’ defense if a question related to inquiries subsequently arises.
Qualify or disclaim an opinion if not provided by the client.
Information related to financial statements:
Management’s responsibility for F/S and internal control over financial reporting.
Appropriate disclosure, presentation, and reasonableness of items.
Statement that uncorrected misstatements are immaterial.
Information provided to auditors by management.
Internal control over financial reporting (for public entities).