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Title: | The management representation letter in Maltese local councils : an evaluation |
Authors: | Galea, Damaris (2006) |
Keywords: | Local government -- Malta Local elections -- Malta Accounting -- Malta |
Issue Date: | 2006 |
Citation: | Galea, D. (2006). The management representation letter in Maltese local councils : an evaluation (Bachelor's dissertation). |
Abstract: | Purpose: The main objective of the dissertation is to examine and analyse the management representation letter of Malta local councils, its significance and utility from the perspectives of both the local council auditors and the local council representatives themselves. This dissertation differs from the study carried out by Sapiano (2005), which related to sole audit practitioners and small company managers. Research: Research data was collected through personal semi-structured interviews carried out throughout December 2005, till March 2006. Twenty interviews were held in all, twelve with the Executive Secretaries, and eight with their Auditors. Responses were analysed. Findings: It was found that although the representation letter is an important tool, it is still not measured to be that important. Management in this study consider it important, as it falls under their responsibility. Auditors also verify that it is an important document, but then discredit their own say by viewing it as a routine letter, besides the fact that it is prepared from a standard letter. Also management do not participate it the letter's drafting. Of extremely importance is the fact that during this study it was found that one particular auditor do not use the representation letter. When comparing management's perspectives with previous studies already carried out, substantial differences arose, in regards to; • The importance of the letter, and • Purpose of the letter. Assessment: The representation letter was a customary auditing procedure, which become mandatory with the issuance of ISA 580. Notwithstanding this, the letter is still not given much weight. As such this study makes the following recommendations; • Management must be more aware of the letter. As such auditors should let management know all relevant details about the letter. • Auditors themselves must be acquainted with all necessary knowledge regarding the representation letter, to be in a position to give relevant information to management. • Education on such matter should be encouraged. This can be done by both the MIA and the Government itself, and should not limit itself to warrant holders but to the public at large. • Reduce the practitioners' usage of standard letters. • Encourage managers to participate in the drafting of the letter. |
Description: | B.ACCTY.(HONS) |
URI: | https://www.um.edu.mt/library/oar/handle/123456789/82042 |
Appears in Collections: | Dissertations - FacEma - 1959-2008 Dissertations - FacEMAAcc - 1983-2008 |
Files in This Item:
File | Description | Size | Format | |
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B.ACCTY.(HONS)_Galea_Damaris_2006.pdf Restricted Access | 4.66 MB | Adobe PDF | View/Open Request a copy |
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