The audit committee of the board of directors of Rebel Corporation asked Tish & Field, CPAs, to
Question:
December 31, 2013. Tish & Field explained the need to make an inquiry of the predecessor auditor and requested permission to do so. Rebel’s management agreed and authorized the predecessor auditor to respond fully to Tish & Field’s inquiries.
Required:
a. What information should Tish & Field obtain during its inquiry of the predecessor auditor prior to accepting the engagement?
b. What additional audit procedures should Tish & Field perform in evaluating Rebel as a potential client?
c. After a satisfactory communication with the predecessor auditor, Tish & Field drafted an engagement letter that was mailed to the audit committee of the board of directors of Rebel Corporation. The engagement letter clearly set forth the arrangements concerning the involvement of the predecessor auditor and other matters. What matters would Tish & Field generally have included in the engagement letter?
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a Prior to acceptance of the engagement Tish Field should have communicated with the predecessor auditor regarding Information that might bear on the ...View the full answer
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Related Book For 
Auditing and Assurance Services A Systematic Approach
ISBN: 978-1259162343
9th edition
Authors: William Messier, Steven Glover, Douglas Prawitt
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