Updates to Client Representations

We are just releasing a couple of new page updates today. As usual this will not affect concluded pages or completed jobs, but you will see a couple of differences on pages in progress. 

Firstly, the page Audit Acceptance and Continuance now has a new item linking to an optional sub-page entitled Governance Checklist

The new work item says:

As a way to assess the client to provide information for making a decision regarding acceptance or continuance, and as a planning tool to help with identification of potential risk areas at the start of the audit process, you may use a Governance Checklist to obtain pertinent information (a page to be shared with and completed by those charged with governance of the entity). Do you wish to create this checklist?

This page was suggested by a user as way of making a preliminary assessment, from the perspective of governance, of what the relevant issues may be. There are general questions about Going Concern, Litigation, Fraud, Related Parties etc. See extract:


When a response requires an explanation a comment box pops up to prompt this.

There is of course some overlap with other work-papers and checklists. The Items Required for Audit page includes more specific around some of these issues but is normally prepared by someone other than governance, so this gives a good opportunity to compare perspectives. There are also more formal Fraud Risk Assessment - Governance page in the D section which covers the fraud issues specifically. If you are confident that this has been sufficiently covered in the Governance Checklist it may be perhaps cross-referenced to that work rather than being addressed again. This is up to your judgement.

Secondly, the Management Representation Letter page in the Z section has been updated as part of our general review to add references to the specific parts of the auditing standards. There are a couple of new steps in there just to cover the requirements of ISA (NZ) 580, particularly where non-standard letters are being used or in special cases. See extract below:



Have more questions? Submit a request


Powered by Zendesk