Please answer with reason for all why the option is correct and why the other options are incorrect       Which of the following matters would an auditor most likely ask client management to affirm in an audit representation letter?  Communications with those charged with governance concerning weaknesses in internal control Plans to acquire or merge with other entities in the subsequent year The reasonableness of significant assumptions used in making accounting estimates Management's acknowledgment of its responsibility for the detection of employee fraud

Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter14: Completing A Quality Audit
Section: Chapter Questions
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Please answer with reason for all why the option is correct and why the other options are incorrect

 

 

 

Which of the following matters would an auditor most likely ask client management to affirm in an audit representation letter? 

Communications with those charged with governance concerning weaknesses in internal control

Plans to acquire or merge with other entities in the subsequent year

The reasonableness of significant assumptions used in making accounting estimates

Management's acknowledgment of its responsibility for the detection of employee fraud

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