Your SlideShare is downloading. ×
  • Like
Accepting a new appointment p7
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Now you can save presentations on your phone or tablet

Available for both IPhone and Android

Text the download link to your phone

Standard text messaging rates apply

Accepting a new appointment p7

  • 176 views
Published

Accepting a new appointment p7

Accepting a new appointment p7

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
176
On SlideShare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
3
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n

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