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麻烦对审计方面有兴趣的人士帮忙翻译一下下面这封信. 感谢万分~~~
Dear Sirs
LETTER OF REPRESENTATION
We are writing at your request to confirm to the best of our knowledge and belief the following representations made to you during your examination of the financial statements of [name of company”> for the year/period ended …………………..:
1. We acknowledge that the directors are responsible for the true and fair presentation in the financial statements of the state of affairs, results of operations and cash flows;
2. We have made available to you
(a) all financial records and related data, and
(b) all minutes of the meetings of shareholders and directors and all statutory records;
3. There have been no
(a) irregularities involving management or employees that could have a material effect on the financial statements, and
(b) violations or possible violations of laws or regulations, the effect of which should be considered for disclosure in the financial statements or as a basis for recording a contingency;
4. There are no
(a) legal claims on the company which should be disclosed in the financial statements, and
(b) material transactions that have not been properly recorded in the accounting records of the company;
5. Provision has been made in the financial statements for
(a) all liabilities which existed at the balance sheet date including the liability for all purchases to which title had passed prior to the balance sheet date, and
(b) all losses which have resulted or may be expected to result from events which had occurred by the balance sheet date;
6. There were no:-
(a) material contingent liabilities,
“contingent liabilities” includes cross deeds of covenants, bills and accounts receivables discounted, assigned or sold which are subject to recourse, endorsements or guarantees, pending lawsuits, unsatisfied judgements or claims, pending or threatened litigations, repurchase agreements and in some cases, uncalled capital or shares held in other companies,
(b) purchase commitments in excess of normal requirements or at prices in excess of the prevailing market prices, or agreements to repurchase items previously sold,
(c) commitments for the purchase or sale of investments,
(d) other commitments or obligations which might adversely affect the company,
(e) options granted on the company’s capital, and
(f) defaults in principal, interest, sinking fund or redemption provisions with respect to any issue of share or loan capital or credit agreements, or any breach of covenant of an agreement;
7. The balance sheet includes all cash and bank accounts and all other assets of the company required to be included therein and as shown in the books of the company. At the balance sheet date these assets were beneficially owned by the company free of any charge in favour of third parties. The company has no plans or intentions that may materially affect the carrying value or classification of assets or liabilities;
8. The net book amounts at which the property, plant and equipment are stated in the balance sheet were arrived at
a) after taking into account all expenditure during the year which represented capital outlay on these assets but no expenditure properly chargeable to revenue,
b) after eliminating the cost and accumulated depreciation relating to all items which had been sold or scrapped, and
c) after providing for depreciation and obsolescence on bases and at rates calculated to reduce the net book amount of each asset to its estimated residual value by the time it becomes no longer economically useful in the business;
9. In arriving at the aggregate amount at which inventories are stated in the balance sheet
a) inventories held on behalf of other parties have been excluded,
b) all executed sales orders and completed contract work have been invoiced to customers and the inventories relating to invoiced sales have been excluded,
c) account has been taken of the whole of the raw materials, stores, work-in-progress and finished products in the company’s ownership at the balance sheet date,
d) in estimating net realisable value, due allowance has been made for all prospective costs of realisation and slow-moving, obsolete, defective, unsaleable and unusable items; and
e) provision has been made for all losses sustained up to the balance sheet date on contract work-in-progress and for any expected future loss in respect of contracts entered into at the balance sheet date, based on the estimated costs to completion; and
10. The directors are of the opinion that all other assets shown in the balance sheet are expected to produce on realisation in the ordinary course of business at least the amounts at which they are stated, and that adequate provision has been made against amounts receivable which are known or may be expected to be irrecoverable;
11. All assets and insurable risks of the company are adequately covered by insurance;
12. The amounts treated in the balance sheet as liabilities and provisions for losses and diminution in value of assets are not greater than the sums reasonably required for these purposes;
13. All income due to the company which arose up to the date of the balance sheet has been brought into the books and financial statements;
14. Except as shown in the financial statements, there are no loans relating to the company’s officers or directors which require disclosure in the financial statements;
15. Except as advised to you during the course of your audit and as disclosed in the financial statements where appropriate, the results for the year/period were not materially affected by
(a) transactions of a sort not usually undertaken by the company,
(b) circumstances of an exceptional or non-recurrent nature,
(c) charges or credits relating to prior years,
(d) transactions or agreements with related parties such as affiliates, principal shareholders, directors or management which were not in the ordinary course of business, and
(e) any changes in the basis of accounting or application of accounting policies;
16. There are no material changes or events that have occurred subsequent to the balance sheet date which would require adjustment to or disclosure in the financial statements or which, though properly excluded from the financial statements, are of such importance that they should be disclosed to shareholders through some other medium. In particular, the company’s profitability and liquidity have continued at a satisfactory level since balance sheet date and all debts can be paid as and when they fall due.
Yours faithfully
____________________
Director
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