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Which is the 4 steps in accepting an audit engagement?Steps of an Audit Engagement. Pre-Engagement Activities in Auditing. Prior to actually beginning an audit, there are several important steps. ... . Audit Engagement Process. Once the auditor has been formally retained by the client, substantive audit planning can begin. ... . Role of Fieldwork. ... . Concluding the Engagement.. Under what circumstances the auditor should not accept an audit engagement?If management or those charged with governance impose a limitation on the scope of the auditor's work in the terms of a proposed audit engagement such that the auditor believes the limitation will result in the auditor disclaiming an opinion on the financial statements, the auditor shall not accept such a limited ...
What factors would you consider before accepting the audit engagement?Points to consider before accepting the Audit. Background information.. Eligibility.. Management assessment.. Investigation of industry involvement and risk factor.. Which situation would make an accountant not accept a new audit engagement?Auditor shall not accept an audit engagement if the management imposes any limitation on the scope which will result in the auditor disclaiming an opinion on the financial statements, unless required by law or regulation to do so.
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