Because of the pervasive effects of laws and regulations on the financial statements of governmental units, an auditor should obtain written management representations acknowledging that management has:
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a. | Employed internal auditors who can report their findings, opinions, and conclusions objectively without fear of political repercussion. | |
b. | Implemented internal controls designed to detect all illegal acts. | |
c. | Responsibility for understanding and complying with compliance requirements. | |
d. | Expressed both positive and negative assurance to the auditor that the entity complied with all laws and regulations. |
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