Chapter 8 - Planning Terminology Client acceptance and...

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Chapter 8 Audit Planning and  Analytical Procedures Planning Terminology Client acceptance and initial planning Business and industry Client business risk Preliminary analytical procedures Types Ratios
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Planning Why do we plan? People don’t plan to fail. They fail to plan. John L. Beckley Demonstration Vignette p. 45
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Planning--Terminology Acceptable audit risk When is it determined? How is it determined? Implications Inherent risk When is it assessed? How is it assessed? Macro/Micro Implications First standard of fieldwork
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New clients Discussion with predecessor auditor Other means of obtaining information Continuing clients What are some reasons why an auditor might drop a continuing client? Reasons for the audit--users and uses--acceptable audit risk Engagement letter Strategy Staffing Specialists? Qualities of a specialist
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This note was uploaded on 02/09/2011 for the course ACCT 407 taught by Professor Smith during the Spring '11 term at University of Louisiana at Lafayette.

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Chapter 8 - Planning Terminology Client acceptance and...

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