L5 Notes_Part_7 - Does the company have a poor reputation...

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© W.R. Knechel New Client Acceptance: client business risk, auditor business risk 1. Financial status: Is the company in danger of ceasing operations in the near-term due to extremely poor performance or other negative factors? 2. Integrity: Does the management of the company possess adequate integrity so that the auditor can be reasonably assured that they are not knowingly committing material fraud and/or illegal acts? 3. Reputation and image:
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Unformatted text preview: Does the company have a poor reputation such that the auditor's association with it could be embarrassing or detrimental? 4. Accounting practices: Does the company have a positive attitude about complying with professional accounting standards so as to present a full and accurate portrait of the company's financial performance and status in their financial statements? Litigation, deep pockets, lowballing, and nonpayment W.R. Knechel...
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L5 Notes_Part_7 - Does the company have a poor reputation...

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