What is a key document the auditor expects to receive from management during the audit?

Understand the Problem

The question is asking about the key document that auditors require from management during an audit, specifically identifying which of the provided options is the correct answer.

More Information

Management's assertions are vital to the audit as they guide the auditor in gathering sufficient and appropriate audit evidence. They refer to the implicit or explicit claims by management in the financial statements about the recognition, measurement, presentation, and disclosure of information.

Tips

A common mistake is assuming the auditor prepares these documents. Instead, management is responsible for providing accurate assertions.

Sources

• Auditing Standard No. 15 - PCAOB - pcaobus.org