SAS 72 Representation Letter

The SAS 72 Representation Letter is a legal template that outlines the responsibilities and obligations of a company's management in connection with audits or other financial engagements conducted by external auditors. This letter is typically used by companies to provide written confirmation to their auditors regarding various representations made during the audit process. It serves as a formal document that enables the management to assert that all the information provided to the auditors is accurate, complete, and in compliance with the applicable accounting standards and regulations. The SAS 72 Representation Letter also highlights the management's acknowledgement of their responsibility for internal controls, fraud detection, and prevention measures. This legal template helps establish a clear line of communication and understanding between the management and auditors, ensuring the auditors have the necessary information and support required to conduct an effective and objective examination of the company's financial statements.