2 Why do predecessor auditors need to obtain the client’s consent to give information to prospectiveauditors? What information should prospective auditors try to obtain from predecessor auditors?

Q: What are examples of some of the independence requirements by the AICPA concerning external…

A: Independence ensures that auditors don't have any financial interest in the firms in which they are…

Q: Once the auditor has gained a preliminary understanding of an entity’s accounting subsystem, they…

A: Explanation : A record of study and the evaluation of internal controls related to the accounting…

Q: When a client has a going concern issue, .AU-C 570 The Auditor’s Consideration of an Entity’s…

A: A Type II subsequent event provides evidence of conditions that arose after the date of the…

Q: No. 2. What are the similarities and differences between external auditors and internal auditors

A: Auditors have very important roles to play in the accounting and auditors may be external or…

Q: e internal auditors’ responsibiliti

A: Auditor's internal control Responsibilities is an audit of the effectiveness of internal control…

Q: Discuss the responsibilities of and auditor’s expert.

A: The auditor’s expert refers to the organization or an individual that possesses expertise in a…

Q: s

A: Auditing refers to the process when an auditor physically checks all the facts and figures of a…

Q: When initiating communications with predecessor auditors, prospective auditors should expecta. To…

A: A predecessor auditor is an auditor who conducted the audit for a client in prior periods, but who…

Q: What should an auditor do prior to accepting an audit engagement?

A:

Q: The purpose of the requirement in having communication between the predecessor and successor…

A: Option 1 : AS per rules of Professional Conduct, Auditor is precluded from disclosing confidential…

Q: The primary reason auditors request responses to attorney letters is to provide auditorsa. The…

A: An attorney’s letter refers to a legal document that gives someone the authority to act for someone…

Q: Who must approve non-audit work performed by a firm for a client?

A:

Q: What is the primary duty of an auditor?

A: Primary duty of an auditor: Primary duty of an auditor is to express an opinion on the financial…

Q: Which of the following may not be the possible sources of obtaining information in respect of…

A: Preliminary engagement activities are those activities that are helpful in reducing the risk of…

Q: What is the auditors’ reporting responsibility for (a) other information accompanying the…

A: Auditors' main responsibility is to express an opinion on the financial statements of an entity that…

Q: Is it permissible to provide the customer copies of the auditor's previous paperwork? If so, are…

A: Auditor refers to examination of the financial statements of the company in order to check the…

Q: Discuss the duties and responsibilities of a CPA. Consider why independent auditors' reports are…

A: A Certified Public Accountant (CPA) is a certified accounting practitioner who has the Certified…

Q: Is it allowed to send copies of the auditor's earlier paperwork to the client? If yes, are there any…

A: solution concept as per the standards on auditing , audit documentation the audit working papers and…

Q: A public accounting firm's audit documentation review has what advantages?

A: Introduction: Audit documentation encompasses all forms of documents or records created by auditors,…

Q: discuss why it is important to have written procedures—and how does the internal audit function…

A: Internal Audit Function: Enhance and safeguard organizational value by delivering risk-based…

Q: What considerations should an auditor take into account before taking a new engagement? Explain.

A: Introduction: A financial audit is a systematic examination and evaluation of an organization's…

Q: engagement. Smith and Johns would most probably inquire the predecessor auditor about the following…

A: Audit :- Companies record the transactions of the business everyday from the date of starting the…

Q: The prospective auditor can contact the predecessor auditor without the client approval. True O…

A: Auditor:- He is a person who is appointed to conduct a fair audit for the company and serve true and…

Q: What is an auditor’s primary method to corroborate information on litigation, claims,…

A:

Q: What are the concepts of legal responsibility applicable to the accountant in his audit functions…

A: Legal Responsibility of Auditor: Every day, more and more people are becoming concerned about the…

Q: 1 What sources of information can auditors use in connection with deciding whether to accept a…

A: Auditing: Auditing is the process by which assertions made by management about financial…

Q: 18. An incoming auditor plans to consult the predecessor auditor and review certain portion of the…

A: Audit work documents are documents that they record during audit evidence obtained during audits of…

Q: Describe the action that an auditor should take if an attorneyrefuses to provide information that is…

A: In general, Auditor is a person or firm who is appointed by the company to execute or to…

Q: What audit procedures can be used to verify officers’ compensation?

A: Audit procedures are those procedures or techniques which are followed through the auditors, in…

Q: Which of the following documents or/ and procedures should be used by the auditor to gain a better…

A: Audit is the process of verifying and examining the financial statements and control procedures…

Q: How should a successor auditor respond to a client's refusal to permit communication with the…

A: Inquiry of the predecessor auditor is a necessary procedure because the predecessor auditor may be…

Q: Is it OK to give the client copies of the auditor's previous documents? If so, what should the…

A: Independent review of accounting and financial records is referred to as auditing. The purpose of…

Q: 9. Describe the purpose of a proposed auditor communicating with the existing or predecessor…

A: Answer: It is mentioned in the provisions of law that whenever any auditor has been appointed,…

Q: QUESTION 4 A. An internal auditor needs to be competent, capable and objective if their services are…

A: Internal Auditing The purpose of internal auditing is to offer value and enhance an organization's…

Q: In addition to obtaining responses to attorney letters, what other procedures can be used to gather…

A: Audit Evidence: The pieces of evidence provided by the audit team to prove their opinion with…

Q: What are the auditor’s responsibilities for ‘going concern’?

A: Going-concern: It can be defined as the principle of accounting that is based on an assumption that…

Q: What is meant by the evaluation of a client's ability to continue as a going concern? What are some…

A: Going concern concept states that the financial statements of an entity should be prepared on the…

Q: How has the Sarbanes–Oxley Act attempted to ensure that external auditors will be completely…

A:

Q: What are the responsibilities of (a) client management, (b) auditors, and (c) the client’s…

A:

Q: s a member of an audit team required to disclose to a client that a commission will be received at…

A: Commission refers to a form of compensation which includes the adequate base salary of an employee…

Q: Audit Client Acceptance Procedures

A: Audit Client Acceptance Procedures are certain procedures to be followed by the auditor before…

Q: The audit documentation are the connecting link between the client's accounting records, financial…

A: Auditing is reviewing the financial statement of the company and giving an opinion on whether the…

Q: The statement that the auditor believes that the audit evidence obtained is sufficient and…

A: Audit is the process of examining and verifying financial statements that whether financial…