✔ 最佳答案
(1) Financial Statements
(2) Completeness of Information Provided
(3) Recognition, Measurement, and Disclosure
- For references, do a google search and key in:
Hong Kong Standard on Auditing 580 Written Representations
- you will find the explanations on the above 3 matters,
especially note: Appendix 1 and Appendix 2
- it is also advisable to read:
Hong Kong Standard on Auditing 560 Subsequent Events
- these are pdf files
WK
2013-12-16 05:38:01 補充：
-note: should be HKSA (Clarified) 580 Written Representations
and HKSA (Clarified) 560 Subsequent Events
2013-12-17 08:55:26 補充：
Financial Statements:
- management has fulfilled its responsibilities, as set out in the terms of the audit
engagement letter, for the preparation of the financial statements in accordance with
Hong Kong Financial Reporting Standards.
2013-12-17 09:05:58 補充：
-the directors of the company belief that the financial statements are fairly presented,
i.e. gives a true and fair view of the state of affairs of the company and of the
profit/loss and cash flows for the year, in accordance with the Companies Ordinance.
2013-12-17 09:09:35 補充：
-significant assumptions used by the company in making accounting estimates,
including those measured at fair value, are reasonable (HKSA 540)
2013-12-17 09:12:50 補充：
- related party relationships and transactions have been appropriately accounted for
and disclosed in accordance with the requirements of Hong Kong Reporting Standards.
(HKSA 550)
2013-12-17 09:15:33 補充：
Completeness of Information:
- have provided all financial records and related data relevant to the preparation of
the financial statements
- have provided information such as all minutes of meetings of shareholders,
directors and committees
2013-12-17 09:19:12 補充：
- have provided additional information as requested for the purpose of audit.
- unrestricted access to persons within the company from whom the auditors
find it necessary to obtain audit evidence.
2013-12-17 09:22:36 補充：
- All transactions have been recorded in the accounting records and are reflected
in the financial statements.
2013-12-17 09:28:16 補充：
Recognition, Measurement, and Disclosure:
- have disclosed the results of the management's assessment of the risk
that the financial statements may be materially misstated as a result of
fraud. (HKSA 240)
2013-12-17 09:31:08 補充：
- have disclosed all information in relation to fraud or suspected fraud
affecting the entity involving management, employees who have
significant roles in the internal control, or others where the fraud could
have a material effect on the financial statements. (HKSA 240)
2013-12-17 09:33:58 補充：
- have disclosed all information in relation to allegations of fraud, or suspected
fraud, affecting the entity's financial statements communicated by employees,
former employees, analysts, regulators or others. (HKSA 240)
2013-12-17 09:37:08 補充：
- have disclosed all known contingent liabilities arising from legal action,
where the estimated or known claim is or exceeds $ _____ that have
not reached the litigation stage, have been appropriately accrued,
and disclosed in the notes to financial statements.
2013-12-17 09:40:05 補充：
- have disclosed all deficiencies in internal control of which the
management is aware. (HKSA 580, para. A11)
2013-12-17 09:48:27 補充：
- No, it is not necessary to list them all. You can choose those "matters"
appropriate enough and significant enough for you to get high marks.
- I don't know what the exact question look like. In this question, the matter
of contingent liabilities looks important.
2013-12-17 10:32:24 補充：
- I have already given you the answer, see above.
- In real world, we usually make an estimate basing on assumptions or
past tracked records. e.g. average amount of the past 3 years.
2013-12-17 10:39:42 補充：
- In real world, some of the companies will accrue a certain amount as
annual defective claims. Different companies have different policies.
2013-12-17 22:03:52 補充：
- Yes, the management.
2013-12-17 22:09:25 補充：
- Yes, the management.
- "management" should be read as "management and, where appropriate ,
those charged with governance. (HKSA 580, para. 8)
2013-12-17 22:20:57 補充：
- Management Representation Letter is a letter given by the management
of the company (to be audited) to the "Auditor" company.
- I omitted these two words simply because I assume you understand
what you are doing.
