management letter 是由审计产生的by-product.内容是关于给管理层的在内控方面的一些建议，auditor 给clien-t的。
management representation letter 是免责声明书，内容一般是与管理层estimation，judgement 等相关的，management 给auditor的
engagement letter 是双方签订的contract.
三者产生的时间也不同
Risk management process
1,Identify the risk
2,Assessing the likelihood of the risk
3,Evaluating the significance of the risk
4.Deciding about the actions to address those risks
5,Continuing monitoring risk
management representation letter 是免责声明书，内容一般是与管理层estimation，judgement 等相关的，management 给auditor的
engagement letter 是双方签订的contract.
三者产生的时间也不同
Risk management process
1,Identify the risk
2,Assessing the likelihood of the risk
3,Evaluating the significance of the risk
4.Deciding about the actions to address those risks
5,Continuing monitoring risk
