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Unformatted text preview: Obtain an understanding of the accounting principles and practices used by the client in measuring, recognizing, recording, and disclosing all significant accounts and disclosures in the financial statements. Asking the entitys personnel about important matters. Performing analytical procedures to identify relationships and individual items that appear to be unusual. Reading the financial statements to determine if they conform to the applicable financial reporting framework. Obtaining reports from other accountants, if any, who have audited or reviewed the financial statements or significant components. Obtaining a representation letter from management....
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- Spring '11