Management Representations Clause Samples

Management Representations. During the course of PM’s examination, PM will request information and explanations from Client management regarding matters specific to the assertion. PM will also require that management make certain representations to us in writing as a precondition to issuance of PM’s report.

Management Representations. During the course of the audit, management made certain representations to us. These representations were verbal or written and therefore explicit, or they were implied through the financial statements. Management provided representations in response to specific queries from us, as well as unsolicited representations. Such representations were part of the evidence gathered by us to be able to draw reasonable conclusions on which to base the audit opinion. These representations were documented by including in the audit working papers memoranda of discussions with management and written representations received from management.

Management Representations. The Manager’s consent to the stallholder to attend the Sunday Street Party does not convey to the stallholder any ongoing rights in relation to the Sunday Street Party into the future and such approval can be terminated by the Festival Management at any time in writing and without any period of notice. The Festival Management reserves the right to undertake any of the following actions without notice: Re­locate a stallholder to another stall site within the Sunday Street Party. Require the stallholder to remove from sale any goods or services offered by the stallholder which are not approved products; or Requests the stallholder undertake any reasonable measure, which in the opinion of Festival Management will improve the safety of the stall or raise the level of presentation of the stall & its products.

Management Representations. We have requested certain representations from management that are included in the management representation letter dated November 8, 2019. We applied certain limited procedures to management’s discussion and analysis, which is required supplementary information (RSI) that supplements the basic financial statements. Our procedures consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We did not audit the RSI and do not express an opinion or provide any assurance on the RSI. We were engaged to report on the budget status report, which accompanies the financial statements but are not RSI. With respect to this supplementary information, we made certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves.

Management Representations. From time to time, and especially at the conclusion of the audits, Auditee management will sign, and return to the Consultant, Representation Letters as required by applicable auditing standards. These Representation Letters will cover the elements required by the Consultant’s professional auditing standards, and will acknowledge and confirm representations made by the City and its reporting entities’ management, during the audit including, among other things: 7.1. Management’s responsibility for the preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America, pronouncements of the Governmental Accounting Standards Board, the Uniform System of Accounts for electric utilities, and/or federal and state reporting requirements as appropriate. 7.2. The availability of financial records and related data, including the completeness and availability of all minutes of the City Council meetings. 7.3. Management’s responsibility for the Auditees' compliance with laws and regulations, the identification and disclosure to the Consultant of all laws and regulations that have a direct and material effect on the determination of financial statement amounts and to the best of their knowledge and belief, the absence of fraud involving management or those employees who have significant roles in the control structure. The Consultant will provide the Representation Letters to the Auditees in Word format and will rely on these letters in the course of providing the City the services requested by this Contract. Additionally, management will provide representations as to: 7.4. The proper presentation of the financial reporting entity's financial statements to be audited, the inclusion of all Component Units, and the disclosure of all joint ventures and other related organizations; 7.5. The proper classification of funds; 7.6. The proper approval of reserves or designations of fund equities; 7.7. Compliance with laws and regulations, including budget laws or ordinances; 7.8. Compliance with any tax or debt limits, including any related debt covenants; 7.9. Identification of all federal assistance programs, if applicable, and compliance with all related grant requirements; and 7.10. The effect of uncorrected financial statement misstatements on the financial statements taken as a whole. Regarding the required supplementary information that the designated accounting standard setter, the Governmental Accounting S...