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Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
Accepting a new appointment p7
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Accepting a new appointment p7

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Accepting a new appointment p7

Accepting a new appointment p7

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  • Transcript

    • 1. Accepting a New Appointment
    • 2. Steps
    • 3. Steps 1. Any professional problems attached toaccepting the engagement? (independence, a lack of expertise, conflict of interest)
    • 4. Steps 1. Any professional problems attached toaccepting the engagement? (independence, a lack of expertise, conflict of interest)2. Resources are available to complete the audit (sufficient staff available at the right time)
    • 5. Steps 1. Any professional problems attached toaccepting the engagement? (independence, a lack of expertise, conflict of interest)2. Resources are available to complete the audit (sufficient staff available at the right time) 3. Get references (company and directors) = Client screening
    • 6. Steps 1. Any professional problems attached toaccepting the engagement? (independence, a lack of expertise, conflict of interest)2. Resources are available to complete the audit (sufficient staff available at the right time) 3. Get references (company and directors) = Client screening 4. Discuss with the ‘old’ auditors, the appointment, the client and the audit work. The method of communication should be a professional etiquette letter.
    • 7. Client identification
    • 8. Client identificationAnti money laundering (He is who he says he is)
    • 9. Client identification Anti money laundering (He is who he says he is)Certificate of incorporation, headed letter paper, recent utility bill
    • 10. Client identification Anti money laundering (He is who he says he is)Certificate of incorporation, headed letter paper, recent utility bill Does the business make commercial sense
    • 11. Communicationwith old auditors
    • 12. Communicationwith old auditorsGet client permission (refuse if denied)
    • 13. Communication with old auditors Get client permission (refuse if denied) If no information provided, accept or reject theengagement based on other available knowledge.
    • 14. Communication with old auditors Get client permission (refuse if denied) If no information provided, accept or reject theengagement based on other available knowledge.  
    • 15. books & records
    • 16. books & recordsOld Auditor has Right of lien (if not paid)
    • 17. books & records Old Auditor has Right of lien (if not paid) Documents in auditor’s possession lawfully
    • 18. books & records Old Auditor has Right of lien (if not paid) Documents in auditor’s possession lawfully Invoice sent and no dispute over fees.
    • 19. books & records Old Auditor has Right of lien (if not paid) Documents in auditor’s possession lawfully Invoice sent and no dispute over fees.  
    • 20. books & records Old Auditor has Right of lien (if not paid) Documents in auditor’s possession lawfully Invoice sent and no dispute over fees.   Working papers belong to the auditor

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