Provide several representations that auditors of public companies may seek from management regarding internal control.

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Provide several representations that auditors of public companies may seek from management regarding internal control.

Answer:

Possible representations include:
• Management’s acknowledgement of its responsibilities for establishing and maintaining effective internal control over financial reporting.
• Management’s conclusion about the effectiveness of internal control over financial reporting as of the end of the fiscal period.
• Disclosure to the auditor of all deficiencies in the design or operation of internal control over financial reporting.
• Management’s knowledge of any material fraud or other fraud involving senior management or other employees who have a significant role in the company’s internal control over financial reporting.

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