purpose of a letter of representation? (br) State and triefly explain the action malitions should take if the management refuses to provide a letter of representation. (4 marks) marks) (ii) Sate the specific representations you in an mudition, would wish to obtains from the manegement in respect of (1) Amers. (4 marks) (ii) Liabilities (4 marks) (d) identify any four contents of an andil engagement letter

Purpose of a letter of representation:<br />The purpose of a letter of representation is to formally request information or clarification from the management regarding specific matters. It serves as a tool to address any concerns or queries that the requesting party may have.<br /><br />If the management refuses to provide a letter of representation, the following actions can be taken:<br /><br />1. Seek legal advice: Consult with a legal professional to understand the implications of the management's refusal and explore potential legal remedies.<br />2. File a complaint: If the refusal is in violation of any regulations or agreements, file a formal complaint with the appropriate regulatory body or authority.<br />3. Engage in mediation: Consider mediation as an alternative to resolve the dispute amicably.<br />4. Pursue litigation: As a last resort, consider taking legal action against the management to enforce the right to obtain the requested information.<br /><br />Specific representations to obtain from the management:<br /><br />1. Amers:<br /> - Details of any outstanding accounts or invoices.<br /> - Explanation of any discrepancies or issues related to the accounts.<br /> - the amount due and any applicable late fees or penalties.<br /><br />2. Liabilities:<br /> - List of all current liabilities, including loans, debts, and other financial obligations.<br /> - Details of any pending legal claims or disputes that may impact the company's liabilities.<br /> - Explanation of any contingent liabilities that may arise in the future.<br /><br />Contents of an engagement letter:<br /><br />1. Scope of work: Clearly define the services to be provided by the engagement party, including any specific tasks or deliverables.<br />2. Terms and conditions: Outline the terms and conditions of the engagement, including payment terms, deadlines, and any confidentiality obligations.<br />3. Fee structure: Specify the fee structure, including any hourly rates, flat fees, or retainer fees, and any additional costs that may be incurred.<br />4. Duration of engagement: Indicate the start and end dates of the engagement, as well as any extensions or renewals be possible.