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The Use of Engagement Letters
There is a contractual relationship among an accountant and his client. The accountant must therefore make sure that at the time he decided to execute certain work for the client, the scope of his responsibilities is made apparent preferably in writing, in that the terms of his agreement with his client are appropriately defined. Where probable a letter of engagement must be prepared setting out in detail the real services to be performed, and the terms of engagement must be accepted by the client and hence to reduce the risk of disputes concerning the duties supposed.
Authoritative Document is IAS 17 Leases The suitable technique of amortization or depreciation to require in the case of leasehold property and freehold buildings is straight-
Communication with Expert Whether the auditor intends to utilize the work of an expert then he must communicate along with the expert well in advance to confirm the terms of e
Q. If Kiner Company issues 3,000 shares of $5 par value common stock for $70,000, the account a. Paid-in Capital in Excess of Par Value will be credited for $15,000. b. Common Stoc
You have been appointed as an Internal Auditor in an organisation . As part of your duties, you are required to provide training to the staff in the internal audit division. Your f
WHAT OF COST OF JOURNAL ENTRY?
? Decide what areas of the company will be audited and the frequency of the audits. Prepare a yearly audit schedule and distribute. ? Make an audit plan. Decide what other audit r
what is statutory audit and private audit
Plz assist me with these questions The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is now
Current Audit File The current audit file may involve inter alia: a) A copy of the audited financial statements and other report prepared such as a conclusion of audit work
expalining the meaning of audit test data
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