Audit letter of representation: to sign or not to sign?

Governance | Don Bawtree | 27 Apr 2011

At the end of an audit, the trustees are asked to sign a letter addressed to the audit firm, confirming, amongst other things, that they have told the auditors everything they need to know. Often trustees feel unsure about this letter. Why is it needed? Is the auditor just passing the buck? Is it safe to sign?

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