What are the auditor’s sources of information about a potential client?
Answer to relevant QuestionsDoes 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?Why does the audit firm have to plan the audit resources needed for an audit engagement?Considering only the core members of the audit team, how might an area being labeled “high risk” affect the audit plan for staffing the area?What are indicators of the competence of others performing work that is used by the auditor?What is important to successful empowerment of employees and delegation of authority?
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