Accepting a New Appointment
Steps
Steps   1. Any professional problems attached toaccepting the engagement? (independence, a lack of expertise,             ...
Steps   1. Any professional problems attached toaccepting the engagement? (independence, a lack of expertise,             ...
Steps   1. Any professional problems attached toaccepting the engagement? (independence, a lack of expertise,             ...
Steps   1. Any professional problems attached toaccepting the engagement? (independence, a lack of expertise,             ...
Client identification
Client identificationAnti money laundering   (He is who he says he is)
Client identification     Anti money laundering   (He is who he says he is)Certificate of incorporation, headed letter paper...
Client identification     Anti money laundering   (He is who he says he is)Certificate of incorporation, headed letter paper...
Communicationwith old auditors
Communicationwith old auditorsGet client permission   (refuse if denied)
Communication       with old auditors        Get client permission   (refuse if denied) If no information provided, accept...
Communication       with old auditors        Get client permission   (refuse if denied) If no information provided, accept...
books & records
books & recordsOld Auditor has Right of lien (if not paid)
books & records Old Auditor has Right of lien (if not paid) Documents in auditor’s possession lawfully
books & records Old Auditor has Right of lien (if not paid) Documents in auditor’s possession lawfully  Invoice sent and n...
books & records Old Auditor has Right of lien (if not paid) Documents in auditor’s possession lawfully  Invoice sent and n...
books & records Old Auditor has Right of lien (if not paid) Documents in auditor’s possession lawfully  Invoice sent and n...
Upcoming SlideShare
Loading in …5
×

Accepting a new appointment p7

299 views

Published on

Accepting a new appointment p7

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
299
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • \n
  • Accepting a new appointment p7

    1. 1. Accepting a New Appointment
    2. 2. Steps
    3. 3. Steps 1. Any professional problems attached toaccepting the engagement? (independence, a lack of expertise, conflict of interest)
    4. 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. 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. 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. 7. Client identification
    8. 8. Client identificationAnti money laundering (He is who he says he is)
    9. 9. Client identification Anti money laundering (He is who he says he is)Certificate of incorporation, headed letter paper, recent utility bill
    10. 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. 11. Communicationwith old auditors
    12. 12. Communicationwith old auditorsGet client permission (refuse if denied)
    13. 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. 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. 15. books & records
    16. 16. books & recordsOld Auditor has Right of lien (if not paid)
    17. 17. books & records Old Auditor has Right of lien (if not paid) Documents in auditor’s possession lawfully
    18. 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. 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. 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

    ×