It is easy to feel overwhelmed by all of the terminology surrounding an audit. Here is a list of frequently used terms and their meanings:
Tag: Letter of Representation
SSAE 16 Management’s Written Assertion
It was a few years ago while I was a senior manager at a big four firm that the CTO did not want to sign the letter of representations related to the SAS 70 audit. This was an executive at one of the world’s largest companies, and yes it was/is a public company. After reading […]
Letter of Representation
What is a Letter of Representation? At the end of all SAS 70 audit engagements, the service auditor asks management to take responsibility for the presentation of the description of controls found in Section II of the report. The following is a short excerpt from the letter of representation: “I recognize that, as management of […]