First Audit_AA_Ch_37

First Audit_AA_Ch_37 - First Audit Engagement 1. Prior to...

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© Peter T. Y. Lau and Nelson C. Y. Lam © Pilot Publishing Co. Ltd. 2009 Auditing and Assurance in Hong Kong 1 First Audit Engagement 1. Prior to Acceptance HKSQC 1 requires an audit firm to only undertake or continue relationships and engagements where the firm: is competent to perform the engagement and has the capabilities, time and resources to do so; can comply with relevant ethical requirements; and has considered the integrity of the client and does not have information that would lead it to conclude that the client lacks integrity. (see Chapter 8) The firm should obtain such information as it considers necessary in the circumstances: Before accepting an engagement with a new client, When deciding whether to continue an existing engagement, and When considering acceptance of a new engagement with an existing client.
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© Peter T. Y. Lau and Nelson C. Y. Lam © Pilot Publishing Co. Ltd. 2009 Auditing and Assurance in Hong Kong 2 1. Prior to Acceptance In considering whether the firm has the capabilities, competence,
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This note was uploaded on 12/21/2010 for the course ACCT 410 taught by Professor Sallyli during the Fall '10 term at Hong Kong Shue Yan.

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First Audit_AA_Ch_37 - First Audit Engagement 1. Prior to...

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