You are the audit partner in Bright and Young, Chartered Certified Accountants, linked to an international Network of accounting firms. You have received an invitation to accept an audit engagement of a large proprietary company with global operation head quartered in Sydney, Australia. The new client has been rapidly progressing over the past 5 years with profitability.

 

YOU ARE REQUIRED TO PROVIDE:

(a)Four reasons explain why a company may need to replace/change its auditors over its lifespan.

(b)Four factors that your firm must consider in accepting this new audit engagement as per the required regulation.

Answer rating: 100% (QA)

a Four reasons why a company may need to replacechange its auditors over its lifespan are Rotation requirements In some jurisdictions there are mandat... View the full answer