Client acceptance and preliminary risk assessment

Assignment Help Operation Management

Reference no: EM131736169

Client Acceptance and Preliminary Risk assessment

Tasks

Do an Internet and/or library search to determine the current state of the US economy and the household appliance industry.

1) Client acceptance letter.

Prepare a client acceptance letter to the partner in charge of your engagement. Your letter will need to contain lists of additional information the audit firm would need to gather before the client acceptance decision is finalized. Address the letter to the partner in charge of the audit, which you can assume is your instructor.

Your letter should contain the following sections:

A summary of possible client audit and fraud risks that you develop from your review of the publicly available information on the US economy and the firm's unaudited 2014 financial statements as well as the limited industrial data provided in the case.

A description of items you recommend the audit firm research concerning Southwest's managers that would address their ethical character and qualifications to run a firm like Southwest along with a list of possible information sources. Include a short discussion of why you included each item by discussing how it would affect audit and fraud risk.

A description of items you recommend the audit firm research concerning Southwest's relationships with third parties to include customers, vendors, financial institutions the work with, and legal counsel that would be relevant to assess audit risk. Include possible sources of information for each. Include a short discussion of why you included each item by discussing how it would affect audit and fraud risk.

A description of items you recommend the audit firm review internally to determine the need for outside experts on the audit and whether the audit firm is sufficiently independent of Southwest.

A description of the effect on your firm's quality review process if Southwest were to go public. There will be a variety of effect of going public, but limit your response to just the effect on the engagement quality review process.

You can google the client acceptance letter. You will find many such examples. You can then use that format and adjust it to fit this case and the information pertaining to it.

Reference no: EM131736169

Questions Cloud

Management issues associated with foreign direct investments : Management Issues Associated with Foreign Direct Investments in the Middle East"

Minimize the sum of annual ordering and carrying costs : what order size would minimize the sum of annual ordering and carrying costs?

Government can take to remedy serious antitrust violation : What is the most extreme action a government can take to remedy a serious antitrust violation?

Discuss the source of law mentioned : Discuss the source of law mentioned in this article, how the law is created, who is responsible for creating the law,

Client acceptance and preliminary risk assessment : Do an Internet and/or library search to determine the current state of the US economy and the household appliance industry.

What is your most economical? plan : If you have a third option and it costs only $4,040 and also takes 20 ?days, what is your most economical? plan?

What government agency is said to have super power : What government agency is said to have "super power"? What issue would labor unions most likely push hardest for compliance with?

Most likely to report ethical issues in the workplace : Which type of employee is most likely to report ethical issues in the workplace?

Discuss the stages of the consumer buyer decision process : Discuss the stages of the consumer buyer decision process and describe how you used this process to make a purchase.

User Account

All Pages