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Written Representations from management (SA 580) are:
ARequired only for first-year audits
BNecessary but not sufficient audit evidence; auditor must still obtain corroborative evidence
CSubstitute for audit evidence
DOptional
Answer & Solution
Correct answer: C. Substitute for audit evidence
1. SA 580.4 explicitly says written reps are necessary but do not by themselves provide sufficient evidence.
2. Corroborative evidence is still required.
3. Mandatory for every audit, not just first-year.
_Source: ICAI BoS CA Final Paper 3, Ch 6 "Standards on Auditing and Professional Ethics"_
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