C is corrent because a management representation letter should be received and dated as of the last day of fieldwork (the date of the auditor’s report).
A is incorrect because substantive tests and compliance tests are normally performed at an interim date or as of year-end with the results being subject to subsequent analytical review.
B is incorrect because substantive and compliance tests are normally performed at an interim date or as of year-end with the results being subject to subsequent analytical review.
D is incorrect because the minutes will often reveal matters requiring further investigation and should, therefore, be read early in the engagement during the planning phase.
|
