Representation letter is provided in connection with your audit of the Company’s financial statements generally for an annual period.
The letter is signed by the director of the company and is sent to a “Certified Public Accountants” company.
The content of the letter depends on the regulations of the country. Please find a sample representation letter for Hong Kong:
Letter of representation
<On company letterhead>
<Date of the day>
Certified Public Accountants
This representation letter is provided in connection with your audit of the Company’s financial statements for the period from <Date> (date of incorporation) to <Date> for the purpose of expressing an opinion as to whether the financial statements are presented fairly, in all material respects, in accordance with Hong Kong Financial Reporting Standards for Private Entities.
- We have fulfilled our responsibilities, as set out in the terms of the audit engagement dated <Date>, for the preparation of the financial statements in accordance with Hong Kong Financial Reporting Standards for Private Entities; in particular the financial statements are fairly presented in accordance
- Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
- Related party relationships and transactions have been appropriately accounted for and disclosed in accordance with the requirements of Hong Kong Financial Reporting Standards for Private Entities.
- All events subsequent to the date of the financial statements and for which Hong Kong Financial Reporting Standards for Private Entities require adjustment or disclosure have been adjusted or disclosed.
- The effects of uncorrected misstatements are immaterial, both individually and in the aggregate, to the financial statements as a whole. A list of the uncorrected misstatements is attached to the representation letter.
- We have provided you with:
- Access to all information of which we are aware that is relevant to the preparation of the financial statements, such as records, documentation and other matters,
- Additional information that you have requested from us for the purpose of the audit; and
- Unrestricted access to persons within the entity from whom you determined it necessary to obtain audit evidence.
- All transactions have been recorded in the accounting records and are reflected in the financial
- We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.
- We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves:
- Employees who have significant roles in internal control; or
- Other where the fraud could have a material effect on the financial statements.
- We have disclosed to you all information in relation to allegations of fraud, or suspected fraud, affecting the entity’s financial statements communicated by employees, former employees, analysts, regulators or others (HKSA240).
- We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing financial statements.
- We have disclosed to you the identity of the entity’s related parties and all the related party relationships and transactions of which we are aware.
<Name and first name>
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