Written RepresentationsWritten Representations

Written Representations

1. The auditor shall request written representations from management[11] and, where appropriate, those charged with governance addressing: (Ref: Para. A97)
   1. Whether management’s use of the going concern basis of accounting in the preparation of the financial report is appropriate;
   2. Whether the method, significant assumptions and data used in management’s assessment of going concern and any related disclosures are appropriate in the context of the applicable financial reporting framework;
   3. That management’s assessment of going concern reflects all events or conditions that may cast significant doubt on the entity’s ability to continue as a going concern that management is aware of, and all such events or conditions, if any, have been disclosed to the auditor; and
   4. That matters relevant to going concern have been adequately disclosed in the financial report, including, when applicable, significant judgements made by management in concluding that there is no material uncertainty.
2. If events or conditions have been identified that may cast significant doubt on the entity’s ability to continue as a going concern the written representations required by paragraph 39 shall also address: (Ref: Para. A97)
   1. Management’s plans for future actions and whether such plans mitigate the effects of the identified events or conditions;
   2. The feasibility of these plans; and
   3. Whether management has the intent to carry out specific courses of action and has the ability to do so.