Predecessor auditor and a new client

Assignment Help Auditing
Reference no: EM1375543

Communications between Prospective auditors and Predecessor. Consider that Smith & Smith CPAs audited Apollo shoes. Inc last year Now CEO Larry Lancaster wishes to engage Anderson, Olds, and Watershed, CPAs (HOW) to audit its annual financial statements. Lancaster is usually pleased with the services provided by Smith & Smith, but he thinks the audit work was too detailed and interfered excessively with norla office routines. AOW has asked Lancaster to inform Smith and Smith of the decision to change auditors, but he does not with to do so.

Required: List and show the steps AOW should follow with regard to dealing with a predecessor auditor and a new client before accepting the engagement.

Reference no: EM1375543

Questions Cloud

Define attention deliberate how five of the several stimulus : Define attention deliberate how five of the several stimulus factors influence attention to a stimulus and explain how you can use each in your advertisement.
Differences between us gaap and ifrs : What are the types of differences that exist between US GAAP and IFRS. In addition to just identifying the U.S. IFRS/ GAAP differences though, please show the status of convergence with respect to those differences.
Reluctant to cooperate for the reason that they must perform : reluctant to cooperate for the reason that they must perform many marketing functions for an uncertain payment.
Comstock coal distributors doesn''t mine coal itself : Comstock Coal Distributors doesn't mine coal itself. In fact the firm doesn't even store or handle coal. Instead Comstock solicits orders for low sulphur coal from other firms then purchases
Predecessor auditor and a new client : List and show the steps AOW should follow with regard to dealing with a predecessor auditor and a new client before accepting the engagement.
Use the department of labour''s website : Use the Department of Labour's website as well as find the area on Registered Apprenticeship. Explore the For Employers section.
Evaluate the company''s total required production : Evaluate the company's total required production in units of finished product for the whole three month period ending September 30.
Nations hotels-measuring the roi in business : Once you have found the website click on Tool and review the Nations Hotels-Measuring the ROI in Business Coaching
Evaluate the exponentially smoothed forecast of calls : Evaluate the exponentially smoothed forecast of calls for each week. Suppose an initial forecast of 50 calls in the first week and use smoothing constant for forecasts=0.1 evaluate is the forecast for the 25th week?

Reviews

Write a Review

Auditing Questions & Answers

  How large would the salvage value of the automated equipment

How large would the salvage value of the automated equipment have to be to make the investment in the automated equipment financially attractive?

  Public administration audit critique

Prepare a two-page audit critique, and include each of the following: Briefly describe the purpose of the audit (identify the type of audit). Briefly describe the method(s) used during the audit

  Management fraud

Joseph Wellington, CFE, is preparing to give an educational presentation about management fraud at the annual ACFE conference, which will be held in Las Vegas.

  Record entries-compute retained earnings

Johnston, Inc. engaged in the following transactions involving treasury stock: Prepare general journal entries to record these transactions. Compute the amount of retained earnings that should be restricted because of the treasure stock still owned a..

  Existence and rights assertions-auditing

Why is it important to place emphasis on the existence and rights (ownership) assertions when auditing accounts receivable?Which audit procedures are usually the most useful for auditing the existence and rights assertions?

  Audit-tolerable deviation rate

When assessing the tolerable deviation rate, the auditor should consider that, while deviations from control procedures increase the risk of material misstatements, such deviations do not necessarily result in misstatements.

  Internal control at drotos theaters

Your CPA firm has just been engaged as the independent auditors for Drotos Theaters. The theater chain is opening a new theater in one month.

  Study annual reports of companies in the industry

You will be required to obtain/study annual reports of companies in the industry

  Explain type of audit

Show the reason for and the type of audit report that you would issue and consider that each item is significant.

  Auditor reports-evaluations and finalizing

What are the steps that are required for an auditor to finalize the audit? Which steps are the most crucial to the outcome of the audit? How will these steps affect the final audit decision?

  Role the objective setting process plays in how

Describe the role the objective setting process plays in how and if auditing objectives are met. What are some steps you might take to ensure you consistently meet audit objectives?

  Confirming individual accounts receivable balances

In confirming individual accounts receivable balances, your client's customers reported the exceptions listed below. Which of these exceptions should be considered misstatements for evaluation purposes, assuming that misstatements are defined as

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd