Which of the following factors most likely would cause a cpa to not accept a new audit engagement?

Which of the following factors most likely would cause a CPA to decline to accept a new audit engagement?
A. The CPA is unable to review the predecessor auditor’s working papers.

B. The CPA does not understand the entity’s operations and industry.

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Which of the following would most likely cause CPA not to accept a new audit engagement?
Why would an accountant not accept a new audit engagement?
What factor below most likely would cause an auditor not to accept a new audit engagement?
What factors should an auditor consider prior to accepting an engagement explain?

C. Management is unwilling to permit inquiry of its legal counsel.

D. Management acknowledges that the entity has had recurring operating losses.

Last Updated on February 3, 2022 by Admin 3

AUD CPA : All Parts

The prospective client has already completed its physical inventory count.
The CPA lacks an understanding of the prospective client’s operations and industry.
The CPA is unable to review the predecessor auditor’s audit documentation.
The prospective client is unwilling to make all financial records available to the CPA.

Explanation:

Choice “D” is correct. An auditor must consider the availability and adequacy of the client’s accounting records and the integrity of management in deciding whether or not to accept a new audit engagement. A prospective client that is unwilling to provide all financial records would give the auditor cause for concern about both of these issues.
Choice “A” is incorrect. The auditor may apply acceptable alternative procedures to audit inventory.
Choice “B” is incorrect. The auditor can accept the engagement and obtain an understanding of the client’s operations and industry after acceptance.
Choice “C” is incorrect. Inability to review the predecessor’s audit documentation means the auditor will expend greater effort auditing beginning balances. It does not mean the engagement should be declined.

AUD CPA : All Parts

Which of the following would most likely cause CPA not to accept a new audit engagement?

Which of the following factors would most likely cause a CPA to decide not to accept a new audit engagement? Management's disregard for internal control.

Why would an accountant not accept a new audit engagement?

After considering all the threats faced by the audit firm by accepting a new engagement, if some threats cannot be eliminated or reduced to a minimum level, either because the threat is too significant or appropriate safeguards cannot be applied, then the auditor should not accept the new audit and assurance engagement ...

What factor below most likely would cause an auditor not to accept a new audit engagement?

Which of the following factors most likely would cause an auditor to decline a new audit engagement? Failure of management to satisfy the preconditions for an audit.

What factors should an auditor consider prior to accepting an engagement explain?

Before accepting an engagement to audit a new Service organization, the service auditor must perform their due diligence around the client acceptance process, anticipate acceptance issues, address the client risk, and perform risk acceptance procedures.

Which of the following factors most likely would cause a cpa to not accept a new audit engagement?

Which of the following would most likely cause CPA not to accept a new audit engagement?

Why would an accountant not accept a new audit engagement?

What factor below most likely would cause an auditor not to accept a new audit engagement?

What factors should an auditor consider prior to accepting an engagement explain?

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