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What is the purpose of an incoming auditor communication

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Reference no: EM132599042

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Q1. What is the purpose of an incoming auditor communication with predecessor? What should the incoming auditor do if the predecessor auditor informs him that he did not seek re-appointment due to the management's attempts to exercise undue influence on him to modify his report?

Q2. What is an audit engagement letter? What are its usual contents?

Q3. What is the main advantage of an audit engagement letter? What are the main advantages of audit planning?

Q4. One of the preliminary steps taken by an auditor in a new audit engagement is to obtain knowledge about the business of the enterprise under audit, how does an auditor gain such knowledge? How is it useful to the auditor?

Q5. The first standard of fieldwork requires that "the work is to be adequately planned..." An effective tool that aids the auditor in adequately planning the work is an audit program. What is an audit program and what planning does it serve?

Q6. Financial statements contain five broad assertions regarding the accounts and classes of transactions included in the statements

a) Who makes the assertions?

b) List and describe each of the assertions

1. Distinguish between the substantive approach and the systems approach to an audit.

Reference no: EM132599042

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