L5 Notes_Part_9 - Ramifications Suppose there isn't a prior auditor what other sources might you use What is the nature of the information you seek

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
P5-29 Predecessor/Successor Auditor Communication AU315 Why do we need this standard? Can you submit a proposal before speaking with the prior auditor? Can you accept the engagement prior to speaking with the prior auditor? Are you required to communicate with the prior auditor? SAS 84 What are the four questions the successor should ask the predecessor? What are the responsibility of the prior auditor? What is customary? When and to how many potential successors must the predecessor respond? What is a Limited Response and what circumstances does it suggest? Must the communication be in writing? Must you keep information so gained confidential if you do not accept the job? Is permission required of the client? Suppose it is not given?
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Ramifications Suppose there isn't a prior auditor, what other sources might you use? What is the nature of the information you seek? Discuss resignation, dismissal, strategic dismissal, G/L withheld, © W.R. Knechel Engagement Letters AU 310 1. Why? a. avoid misunderstandings with the client b. minimize potential liability (ex: 1136 Tenants) c. promote good relations with client personnel d advertises other services 2. What does it contain? P5-31 a. objective of engagement (e.g., audit) b. client’s responsibilities c. auditor’s responsibilities d. Limitations of the engagement e. other services, (e.g., timing –deadlines, need for assistance from client's employees, fees) 3. When should it be obtained?...
View Full Document

This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.

Page1 / 2

L5 Notes_Part_9 - Ramifications Suppose there isn't a prior auditor what other sources might you use What is the nature of the information you seek

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online