FAQs on Standard on Auditing (SA) 580 | Written Representations (Part-1)
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- By Chetan Kulasri
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- Last Updated on 3 April, 2023
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Written representations (WRs) are an important means of obtaining audit evidence. WRs supplement the other audit evidence obtained by auditors during the course of the audit. SA 580, prescribes the basic principles of WRs and these principles need to be followed by auditors while complying with the requirements of SA 580 and the specific requirements of WRs prescribed by other Standards on Auditing. This story discusses some FAQs on Written Representations under SA 580.
FAQ 1. What is the scope of the SA 580?
Standard on Auditing (SA) 580 deals with the auditor’s responsibility to obtain written representations from management and, where appropriate, from those charged with governance.
FAQ 2. Can the auditor accept a qualifying language in Written Representations?
In some cases, management may include in the written representations qualifying language to the effect that representations are made to the best of its knowledge and belief. It is reasonable for the auditor to accept such wording if the auditor is satisfied that the representations are being made by those with appropriate responsibilities and knowledge of the matters included in the representations.
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