What is a key right of an outgoing auditor upon resignation?

An outgoing auditor upon resignation has a key right to prepare written representations for the members of the entity. This right is significant because it allows the outgoing auditor to formally communicate any matters that they believe should be brought to the attention of the members. This includes disclosures related to any issues encountered during the audit, the reasons for their resignation, and any concerns about the financial statements or business practices of the entity.

This communication is essential for maintaining transparency and ensuring that the members are fully informed about the auditor's perspective and any associated risks. It reinforces the auditor’s professional responsibility to uphold ethical standards by ensuring that stakeholders are aware of pertinent issues that may affect their understanding of the financial position and performance of the entity.

The other options do not align with the specific rights of an outgoing auditor in the context of resignation. For instance, preparing financial statements, attending meetings, or negotiating future contracts pertain more to the responsibilities of management or incoming auditors rather than the rights of someone who is resigning from their audit role. Hence, the focus on providing written representations highlights the auditor’s duty to communicate crucial information relevant to the members effectively.