QDI has been your firm's tex client since it was incorporated on January 1, 2008. Your firm also was appointed then to provide annual financial statement review engagements for QDI, beginning with its December 31, 2008 year-end. Your firm has issued "clean" review  for the 2008 and 2009 fiscal years. It is now January 28, 2011, and work is about to begin on the 2010 engagement.

Required: 

The audit partner would like you to prepare a planning memo addressed to him identifying and analyzing any significant engagement issues pertaining to QD1. Dr. Ballinger has also asked the partner whether your audit firm could also analyze the purchase and sale agreement to make absolutely certain that she is rewarded fairly for what she contributed to QDI.

Answer rating: 100% (QA)

To Audit Partner From You Date January 28 2011 Subject Planning Memo for QDI Engagement Introduction This memo outlines the significant engagement iss... View the full answer