Scope of application
01. This Auditing Standard specifies and guides the responsibility of the auditor and the firm (hereinafter referred to as “the auditor”) for obtaining the written representations of management and those charged with governance. Unit value is audited (to the extent applicable) during an audit of the financial statements.
02. Annex 01 provides a list of other Vietnamese Standards on Auditing that contains specific regulations and guidance with respect to written representations. Specific regulations and guidelines in other Vietnamese Standards on Auditing do not limit the application of these auditing standards.
Use written representations as audit evidence
03. Subject to paragraph 05 (c) of the Vietnamese Standards on Auditing 500, audit evidence is all documentation or information obtained by the auditor relating to the audit and based on This document, information, the auditor gives conclusions and thereby forms the audit opinion. Management and management's written representations (hereinafter referred to as “written representations”) are essential information required by the auditor in connection with the audit. the unit's financial statements. Therefore, similar to the response to the auditor's interview questions, written representations are also audit evidence (Ref: Para. A1).
04. Although a written representation provides necessary audit evidence, it may not, by itself, provide sufficient appropriate audit evidence about any of the issues that are being explained. Furthermore, the fact that management has provided reliable justification does not affect the content or extent of other audit evidence that the auditor has obtained regarding the single management have fulfilled their responsibilities or have specific assertions.
05. The auditor and the firm shall comply with the requirements and instructions of this Standard in the auditing of the financial statements.
The audited entity (customer) and the parties using the results of the audit shall have the necessary understanding of the requirements and requirements in this Standard in order to perform their responsibilities and to coordinate their work with Auditors and auditors to perform written explanations during the audit process.
06. Objectives of auditors and auditing firms are:
(a) Obtaining management and management's written representations (to the extent applicable) that management and those charged with governance have fulfilled their responsibility for prepare and present the financial statements and provide sufficient information to the auditor;
(B) Support other audit evidence with respect to the financial statements or the specific assertions of the financial statements by obtaining written representations if the auditor determines that they are necessary or necessary. other Vietnamese auditing standards that require;
(c) Take appropriate action against the written representations of management and those charged with governance (to the extent appropriate), or if the Board of Directors and those charged with governance (to the extent applicable). do not provide the written explanations required by the auditor.