Revised illustrative representation letter for review engagements issued.

• Position: Accounting & auditing news - Accounting and Review Services Committee - Brief article

The Accounting and Review Services Committee has issued a revised illustrative representation letter for review engagements. The illustrative representation letter has been revised to:

* Clarify the dating of the representation letter.

* Clarify the terms "identification of financial statements," "dates" and "periods of review" in the opening paragraph of the illustrative representation letter.

* Clarify that the representations should be made as of the date of the accountant's review report.

* Include the representations required by Statement on Standards for Accounting and Review Services...