State the three purposes of the client letter of representation.

-

State the three purposes of the client letter of representation.


Answer:

• To impress upon management its responsibility for the assertions in the financial statements.
• To remind management of potential misstatements or omissions in the financial statements.
• To document the responses from management to inquiries about various aspects of the audit.

Comments

Post a Comment

Popular posts from this blog

Examine the collapse of Han. What factors explain how this occurred? How influential in Han Dynasty on Chinese History?

-
Examine the collapse of Han. What factors explain how this occurred? How influential in Han Dynasty on Chinese History? Answer: Hsiung Nu (aka Xiongnu) was a threat to the north, Wu had to build the Great Wall to protect empire. Han empire had to give a lot of supplies to Hsiung Nu in order to keep land unharmed. The government allied with wealthy land owners. Peasants had increasing economic pressure, which fueled the Yellow Turban rebellion. Generals stopped recognizing emperor as they became more powerful. Dynasty divided into three kingdoms (Wei, Wu, and Shu). After the Han dynasty, Confucianism became irrelevant, but Daoism and Buddhism were still popular. Han empire invented earthquake devise and anesthesia.
Read more

Summarize effective communication strategies in organizational hierarchies, and review the role and relevance of the organizational grapevine

-
Summarize effective communication strategies in organizational hierarchies, and review the role and relevance of the organizational grapevine Some companies try to encourage communication through workspace design, as well as through Web-based communication channels. some executives also meet directly with employees, such as through management by walking around (MBWA) and town hall meetings, to facilitate communication across the organization. In any organization, employees rely on the grapevine, particularly during times of uncertainty. The grapevine is an unstructured and informal network founded on social relationships rather than organizational charts or job descriptions. Although early research identified several unique features of the grapevine, some of these features may be changing as the Internet plays an increasing role in grapevine communication.
Read more

Describe at least three of the general information skills essential for all business careers.

-
Describe at least three of the general information skills essential for all business careers. General information skills essential for all business careers include   (1) understanding how information systems and technologies can help firms achieve business objectives such as operational efficiency, developing new products and services, and maintaining customer intimacy.  Also essential is (2) an understanding the central role of databases in a modern firm as well as (3) developing skills in the analysis of information in order to help firms understand and make sense out of their environments.  (4) All business majors need to be able to work with specialists and system designers who build and implement information systems. This is necessary to ensure that the systems that are built actually service business purposes and provide the information and understanding required by managers and employees.  In addition, students need to (5) understand how ...
Read more