The audit committee of the board of directors of Rebel Corporation asked Tish & Field, CPAs, to

Question:

The audit committee of the board of directors of Rebel Corporation asked Tish & Field, CPAs, to audit Rebel’s financial statements for the year ended December 31, 2018. Tish & Field explained the need to make an inquiry of the predecessor auditor and requested permission to do so. Rebel’s management agreed and authorized the predecessor auditor to respond fully to Tish & Field’s inquiries.

Required:

a. What information should Tish & Field obtain during its inquiry of the predecessor auditor prior to accepting the engagement?

b. What additional audit procedures should Tish & Field perform in evaluating Rebel as a potential client?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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