13. Which of the following factors would most likely cause a CPA to decidenotto accept a new auditengagement?A.Lack of understanding of the potential client's internal auditors' computer-assisted audit techniques.B.Management's disregard for internal control.C.The existence of related party transactions.D.Management's attempt to meet earnings per share growth rate goals. Show
Difficulty: Hard14. Which of the following matters is generally included in an auditor's engagement letter? Get answer to your question and much more Difficulty: Hard15. Which of the following would heighten an auditor's concern about the risk of fraudulent financialreporting? Get answer to your question and much more Difficulty: HardSource: AICPA16. To best test existence, an auditor would sample from the: Get answer to your question and much more Difficulty: Medium17. The auditors' understanding established with a client should be established through a(an)A.Oral communication with the client.B.Written communication with the client.C.Written or oral communication with the client.D.Completely detailed audit plan. Notes This preview shows page 3 - 6 out of 25 pages. 13. Which of the following factors would most likely cause a CPA to decidenotto accept anew audit engagement?A.Lack of understanding of the potential client's internal auditors' computer-assisted audittechniques.B.Management's disregard for internal control.C.The existence of related party transactions.D.Management's attempt to meet earnings per share growth rate goals. Chapter 06 - Audit Planning, Understanding the Client, Assessing Risks, and Responding14. Which of the following matters is generally included in an auditor's engagement letter? Get answer to your question and much more Difficulty: Hard15. Which of the following would heighten an auditor's concern about the risk of fraudulentfinancial reporting? Get answer to your question and much more Difficulty: HardSource: AICPA16. To best test existence, an auditor would sample from the: Get answer to your question and much more Difficulty: Medium17. The auditors' understanding established with a client should be established through a(an)A.Oral communication with the client.B.Written communication with the client.C.Written or oral communication with the client.D.Completely detailed audit plan. Chapter 06 - Audit Planning, Understanding the Client, Assessing Risks, and Responding18. Which of the following would beleastlikely to be considered an audit planningprocedure? Get answer to your question and much more Difficulty: Medium19. While assessing the risks of material misstatement auditors identify risks, relate risk towhat could go wrong, consider the magnitude of risks and Get answer to your question and much more Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 25 pages? Upload your study docs or become a Course Hero member to access this document Tags Financial audit, Assessing Risks Which of the following would most likely cause a 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.
Which of the following factors most likely would cause an auditor to decline 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.
Which of the following factors most likely would lead a CPA to conclude that a potential audit engagement should be rejected *?Choice "b" is correct. A CPA cannot render an opinion on financial statements unless he or she has obtained sufficient appropriate audit evidence supporting that opinion. If such evidence were unlikely to be available, the CPA would most likely reject the potential audit engagement.
What are the some of the factors risks that audit firms consider when making client acceptance and client continuance decisions?key types of risk that audit firms consider when they make client acceptance and client continuance decisions: client entity characteristics, independence risk factors, third party/due diligence risk factors, quantitative risk factors, qualitative risk factors, entity organizational or governance risks, and financial ...
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Which of the following factors would be most likely cause a CPA to decide not to accept a new audit engagement?
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