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Auditing Standard ASA 540 Auditing Accounting Estimates and Related Disclosures
Written RepresentationsWritten Representations
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Written Representations
- The auditor shall request written representations from management[27] and, when appropriate, those charged with governance about whether the methods, significant assumptions and the data used in making the accounting estimates and the related disclosures are appropriate to achieve recognition, measurement or disclosure that is in accordance with the applicable financial reporting framework. The auditor shall also consider the need to obtain representations about specific accounting estimates, including in relation to the methods, assumptions, or data used. (Ref: Para. A145)