Final answer:
The expression that is least likely to be included in a management representation letter is 3) Management acknowledges responsibility for illegal actions committed by its employees.
Step-by-step explanation:
The expression that is least likely to be included in a management representation letter is 3) Management acknowledges responsibility for illegal actions committed by its employees.
A management representation letter is a document signed by a company's management, stating various representations about the company. It is primarily used by auditors to obtain evidence on matters that are not otherwise readily verifiable. However, management does not typically acknowledge responsibility for illegal actions in this letter as it could have serious legal implications.
The other expressions - 1) No events have occurred subsequent to the balance sheet date that require adjustment to or disclosure in, the financial statements, 2) The company has complied with all aspects of contractual agreements that would have a material effect on the financial statements in the event of noncompliance, and 4) Management has made available all financial statements and related data - are more likely to be included in a management representation letter, as they provide important information regarding the financial statements and compliance with contractual agreements.\