Does the predecessor have to respond to the successor auditor? Why might the prior auditor not be willing or able to communicate fully with the successor auditor? Is this okay, according to professional standards?
Answer to relevant QuestionsWhy do the audit standards address qualifications of the user of financial statements in the discussion of materiality? What is an audit plan?What client circumstances might cause the need for an IT specialist to be involved in an audit?How can management’s control over a low-ranking person affect the value of that person’s work to the auditor?What are risks? How are objectives and threats related to risk assessment?
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