Why does the successor auditor need to obtain the auditees consent in order for the predecessor auditor

Question:

Why does the successor auditor need to obtain the auditee’s consent in order for the predecessor auditor to provide the successor with information about the auditee?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing An International Approach

ISBN: 978-0071051415

6th edition

Authors: Wally J. Smieliauskas, Kathryn Bewley

See More Books

Question Posted: Jan 09, 2015 09:29 AM

See More Questions

Why do predecessor auditors need to obtain the clients consent to give information to prospective auditors? What information should prospective auditors try to obtain from predecessor auditors?
Why does an incoming auditor communicate with the predecessor auditor? What information does the proposing or incoming (successor) auditor request?
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...
3. Complete all parts. Let f(x) = I 2+1 on the interval [0, 2). = x 2+1 (a) Explain why the function f(x) on interval [0,2] satisfies the Mean Value Theorem. (b) find all numbers c that satisfy the...
Express the given quantity as a single logarithm. (a) ln 5 + 5 ln 3 (b) 1/3 ln (x + 2)3 + 1/2 [ln x - ln (x2 + 3x + 2)2]
Cameron Bly is a sales manager for an automobile dealership. He earns a bonus each year based on revenue from the number of autos sold in the year less related warranty expenses. Actual warranty...
The price of a share is $\$ 100$. During the following six months the price can go up or down in a $10 \%$ per month. If the risk-free interest rate is $8 \%$ per year, continuously compounded,...
Filer manufacturing has 8.3 million shares of common stock outstanding. The current share price is $53 and the book value per share is $4. Filer manufacturing also has two bond issues outstanding....
The following information relates to the Jasmine Company for the upcoming year, based on 418,000 units: Sales Cost of goods sold Gross margin Operating expenses Operating profits 6,688,000 Amount $...
Wollmer Distribution Company collects fruit from several small farms in the region, consolidates its collections, and then ships the fruit to a regional wholesale fruit market by truck. The most...
What is an audit client? How does it differ from an auditee?
What benefits are obtained by having an engagement letter?
Apply Thevenin?s theorem twice to find V o? in the circuit in figure. ww 6/0v(+ Vo -j1n j1a
Predict what happened to the labor force between June 2015 and June 2017, if unemployment was constant. In June 2015, the U.S. unemployment rate was 5.2 percent. In June 2017, the unemployment rate...
The IMF projects that Chinas real GDP per person will be 57,163 yuan in 2017 and 60,334 yuan in 2018 and that Indias real GDP per person will be 98,028 rupees in 2017 and 104,191 rupees in 2018. By...
If Akira does not buy theft insurance for his motorcycle, what is his expected wealth and his expected utility? Akira lives in a neighborhood in Japan in which 25 percent of the vehicles are stolen...
a. Do you expect other firms to enter the market for singing lessons and compete with Lorie? b. What happens to the demand for Lories lessons in the long run? What happens to Lories economic profit...
Explain how Chinas real GDP can grow at a 6.9 percent rate when consumption and investment grew faster than 6.9 percent. Chinas real GDP increased 6.9 percent in the first quarter of 2017 from a year...
Equal molar quantities of hydrochloric acid and sodium hypochlorite (NaClO) are mixed. (a) Write the balanced, net ionic equation for the acidbase reaction that can, in principle, occur. (b) Does the...
The bookkeeper for Riley, Inc., made the following errors: a. A cash purchase of supplies of $357 was recorded as a debit to Supplies for $375 and a credit to Cash of $375. b. A cash sale of $3,154...
A lumber company purchases and installs a wood chipper for $\$ 200,000$. The chipper is classified as MACRS 7-year property. Its useful life is 10 years. The estimated salvage value at the end of...
What is the proper interpretation of the probability in discovery sampling?
What are the links that connect test of controls sample planning with substantive balance-audit sample planning?
When you have several alternative test of controls sample sizes to choose from, how do you choose the one to audit?
Sell of Process Further Rose Hill, a soybean farm in northern Minnesota, has a herd of 50 dairy cows. The cows produce approximately 2,800 gallons of milk per week. The farm currently sells all its...
The 3 promotional methods to use will include digital marketing, word to mouth and branding. D g. Part 4: Promotional Strategy i. Identify a promotional mix consisting of at least three promotional...
Wu Inc. Statement of Income Year Ended August 31, 2024 Service revenue Operating expenses Income before income tax Income tax expense Net income Wu Inc. $ 325,000 [1] 116,000 23,000 $ [2] Statement...

Why does the successor auditor need to obtain the auditees consent in order for the predecessor auditor

Question:

Step by Step Answer:

Auditee consent is required because the rules of professional conduct code o...View the full answer

Auditing An International Approach

Students also viewed these Auditing questions