You have been approached by Lakeside Company to be their auditor. They have fired the previous audit
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Question:
- You have been approached by Lakeside Company to be their auditor. They have fired the previous audit firm and are now looking for a new firm. Please answer the following questions concerning this potential engagement.
- What are the issues to consider in making this decision?
- Based on your answer in a) above; What is the most important consideration for your firm in making this decision? Why?
- What are the risks that Lakeside, the potential client, faces in engaging your firm as auditor? Why?
- What part does the previous Audit firm play in your decision? Why?
- If this was a “real world” situation and not a case study simulation; would you engage Lakeside as a client? Why
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
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