ICAI | Implementation Guide to SA 580 Written Representations

Last updated: 08 March 2023

Introduction and Overview

1.1 The purpose of this Implementation Guide is to provide practical guidance on implementation of the principles laid down in Standard on Auditing (SA) 580, "Written Representations" (hereinafter referred as "the Standard"). The Standard is effective for audits of financial statements for periods beginning on or after April 1, 2009.

 

1.2 The Standard deals with the auditor’s responsibility to obtain written representations from management and, where appropriate, those charged with governance.

1.3 Objectives of the Auditor

• The objectives of the auditor are:

o To obtain written representations from management and, where appropriate, those charged with governance that they believe that they have fulfilled their responsibility for the preparation of the financial statements and for the completeness of the information provided to the auditor;

o To support other audit evidence relevant to the financial statements or specific assertions in the financial statements by means of written representations, if determined necessary by the auditor or required by other SAs; and

o  To respond appropriately to written representations provided by management and, where appropriate, those charged with governance, or if management or, where appropriate, those charged with governance do not provide the written representations requested by the auditor.

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