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L19 Notes_Part_19 - Quality of Earnings I “client’s...

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Client Letter or Management Letter Not to be confused with the Management Representation Letter Written by CPA to management Contains: recommendations to help client better achieve their goals. Unlike the Management Representation letter, the Client Letter is optional. It cements the relation with the client by adding value and tangibly justifying the audit fee.
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Unformatted text preview: Quality of Earnings I “client’s ability to replicate its earnings, in terms of both amounts and trends, over relatively long periods of time” Associated with: “conservative” policy choices “permanence” of earnings correlation between cash flow and earnings...
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