Question: Could you please explain why does an auditor need to determine if they want to accept the audit of the potential client?

Could you please explain why does an auditor need to determine if they want to accept the audit of the potential client?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

ACC-411-Auditing Principles ACC 411 Module Two Client Suitability Assignment Guidelines and Rubric Scenario A partner in your accounting firm has reviewed a potential clients 10-K and has provided...

Q:

1. Why does an auditor need to determine if they want to accept the audit of the potential client? 2. How would you gain a thorough understanding of the clients business and industry? Why is this...

Q:

1.Which one is not correct about generally accepted auditing standards? Interpretive Publications, which are officially considered less authoritative and less binding than auditing standards, are...

Q:

q1) 301 on confidentiality recognizes a fundamental public trust between the client and the auditor and reflects the manner in which all professionals conduct themselves. However, in certain...

Q:

Should Arnold have accepted the audit, for his firm, with XYZ Securities, Inc.? Would Arnold?s spending behaviors, after he accepted the position of partner, be considered an ethical issue of...

Q:

The Jacksonville Jaguars National Football League (NFL) team is taking advantage of information technology (IT) tools in the sale of stadium snacks and souvenirs. At Alltel Stadium where the Jaguars...

Q:

Financial advisers are under increasing pressure to communicate and demonstrate their value in the client-adviser relationship. Advisers must have answers to the increasingly difficult or common...

Q:

After completing Part A of this assignment, your instructor may ask you to complete Part B. Do not proceed to Part B unless requested to do so by your instructor. BACKGROUND Congratulations!!! You...

Q:

Inventory Observation A new hire is scheduled to be present for the inventory observation of one of the manufacturing audit clients. During the observation, auditor noticed the following: Some of the...

Q:

Please explain the following questions: 1. Do the auditors question the service lives adopted by the client for plant assets, or do they accept the service lives without investigation? 2. What is a...

Q:

What is empowerment? What benefits does it offer workers? The company? What must a small business manager do to make empowerment work in a company?

Q:

In Exercises 61 and 62, forces w, w2, and w, (in pound act on a simply supported elastic beam, resulting in deflections d,, d, and d, (in inches) in the beam (see figure). dz Use the matrix equation...

Q:

at corps. original issuance of 10,000 shares of common stock c bought 1,000 shares. when corp. later issued 10,000 additional shares of common stock c bought no additional shares. c's proportional...

Q:

Assume that you manage the public affairs office for a large American financial investment firm. Your company has decided to pay incentive bonuses to individuals for the number and volume of...

Q:

2. In this chapter, the reader should reflect on the following concepts: feedback and flexibility as a basis for change, intention and communication as a basis for change and behavioural patterns as...

Q:

Always have the dignity of the other or others as a backdrop.

Q:

1. There are two purposes in this chapter. The first is to break out of habits that have a limiting effect on ones own ability to change. Secondly, it is to understand how the cleaning affects the...