cloring Enabled: Exam fi Chap $1-5$

$31$

Before accepting an engagement to audit a new client, a CPA is required to obtain:

Multiple Choice

$01\mathrm{.}13\mathrm{.}05$

$$ the prospective client's consent to make inquiries of the predecessor, if any.

the prospective client's signature to a written engagement letter.

an assessment of fraud risk factors likely to cause material misstatements.

an understanding of the prospective client's industry and business.