Specific Independent Auditing Standard No.23—Management Representations

Chapter 2 General principlesArticle 4When performing the audit of the financial statements,theCPA should obtain appropriate representations from the entity’smanagement.Management representations can be either written or oral.Written representations are normlly more reliable than oral rep-resentations. If the CPA considers that the contents of an oralrepresentation has a material impact on the financialstatements,he should request the management to confirm therepresentation in writing.Article 5Written management representations obtained by the CPAnormally include:(l)a representation letter provided directly by the manage-ment;