ASA 580 - Management Representations - April 2006
Acknowledgment by Management of its RespAcknowledgment by Management of its Responsibility for the Financial Report
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Acknowledgment by Management of its Responsibility for the Financial Report
7 The auditor shall obtain sufficient appropriate audit evidence that management acknowledges its responsibility for the fair presentation of the financial report in accordance with the applicable financial reporting framework, and has approved the financial report.
8 The auditor can obtain audit evidence of management’s acknowledgement of such responsibility and approval from relevant minutes of meetings of those charged with governance, or by obtaining a written representation from management or a signed copy of the financial report.