Why do predecessor auditors need to obtain the client’s consent to give information to prospective auditors? What information should prospective auditors try to obtain from predecessor auditors?
Answer to relevant QuestionsWhat benefits are obtained by having an engagement letter? What is a termination letter?For a typical audit engagement, describe the people and skills that are normally assigned to a full- service audit team.What are the five types of general analytical procedures? List five sources of information for analytical procedures. What information would you expect to find in a current audit file? Spreadsheet software would be most useful for which of the following audit activities? a. Testing internal controls over computerized accounting applications. b. Preparing an audit plan. c. Preparing a comparison of current- ...
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