Week 2 - Replacing a Previous Auditor Flashcards
(6 cards)
1
Q
What is the first thing to do?
A
Ask client if you can contact previous auditor
2
Q
What should you do if the client gives permission to contact the previous auditor?
A
Contact the previous auditor and ask if there is a reason we should not accept the audit (unpaid fees, dispute etc)
3
Q
What should you do if the client does not give permission to contact the previous auditor?
A
Step away
4
Q
Does the previous auditor have to declare any reasons to not accept the audit?
A
Yes
5
Q
After receiving information about the client, what should we do?
A
Decide whether to accept the client - becomes part of audit risk
6
Q
Why do we need to go through this process?
A
It is an additional safeguard and is professional etiquette
