Appointments Questions and Quality
RCA
RCA      Question                 ‘                 What is the ACCA                   guidance on                 what to...
www.aCOWtancy.com
‘Do you want this client?Agree terms                                RCASend out in                AnswerEngagement letter ...
RCA
RCA      Question                 ‘  What if you                   consider the                 ethical threats to        ...
www.aCOWtancy.com
‘Accept and set upsafeguards                    Answer                                        RCA                    www.a...
RCA
RCA      Question                 ‘                 What else must                  you consider                     befor...
www.aCOWtancy.com
‘Your own competence                      Answer                                          RCA                      www.aCO...
RCA
RCA      Question                 ‘                 What procedures                  must you carry                      o...
www.aCOWtancy.com
‘Request to contact oldauditor                                              RCADiscuss all info with oldauditor           ...
RCA
RCA      Question                 ‘                 What if you dont                 get a reply from                  thi...
www.aCOWtancy.com
‘Send again by recordeddelivery                                             RCA                         Answer            ...
RCA
RCA      Question                 ‘What if the old                 auditor tells you                    there are         ...
www.aCOWtancy.com
‘It may be ok.Just find out why   Answer                                       RCA                   www.aCOWtancy.com
RCA
RCA      Question                 ‘What goes into                 the engagement         7            letter?
www.aCOWtancy.com
‘Scope & ObjectiveResponsibilitiesPractical arrangements                       RCA                         AnswerForm of c...
RCA
‘                 What if the terms                     change?RCA      Question         8
www.aCOWtancy.com
‘Issue new letter                   Answer                                       RCA                   www.aCOWtancy.com
RCA
RCA      Question                 ‘All client info                 that the auditor                   has must be         ...
www.aCOWtancy.com
‘It’s under a lien                    Answer                                        RCA                    www.aCOWtancy.com
RCA
RCA      Question        10       ‘                 What is a lien?
www.aCOWtancy.com
‘If you’re owed fees..You can retain therecords                 Answer                                            RCA     ...
RCA
RCA      Question        11                 ‘                 What is a general                       lien?
www.aCOWtancy.com
‘You can retain therecordsUntil ALL fees are paid   Answer                                              RCA               ...
RCA
RCA      Question        12                 ‘     What is a                     particular lien?
www.aCOWtancy.com
‘You can retain particularrecordsIf work performed andfee agreed                            Answer                        ...
RCA
RCA      Question        13                 ‘                 Why have Quality                     control?
www.aCOWtancy.com
‘Reduce RiskIncrease confidence inour firm                 Answer                                            RCA            ...
RCA
RCA      Question        14                 ‘                 Give examples of                   how leaders              ...
www.aCOWtancy.com
‘TrainingMeetings / briefings   Answer                                          RCA                      www.aCOWtancy.com
RCA
RCA      Question        15                 ‘                 How does quality                 effect planning?
www.aCOWtancy.com
‘People (trained)Risk focussed work                                           RCAConsult with experts   AnswerSafeguards f...
RCA
RCA      Question        16                 ‘   What is a hot                       review?
www.aCOWtancy.com
‘Review before reportissuedAll listed companies                       RCA                       AnswerPublic interestRisky...
RCA
RCA      Question        16                 ‘   Why have a hot                        review?
www.aCOWtancy.com
‘Quality of judgementseg Independence, risks                                             RCATreatment of             Answe...
Appointments & quality p7 questions
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Appointments & quality p7 questions

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Appointments & quality p7 questions

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  • Appointments & quality p7 questions

    1. 1. Appointments Questions and Quality
    2. 2. RCA
    3. 3. RCA Question ‘ What is the ACCA guidance on what to do when 1 accepting an engagement?
    4. 4. www.aCOWtancy.com
    5. 5. ‘Do you want this client?Agree terms RCASend out in AnswerEngagement letter www.aCOWtancy.com
    6. 6. RCA
    7. 7. RCA Question ‘ What if you consider the ethical threats to 2 be insignificant?
    8. 8. www.aCOWtancy.com
    9. 9. ‘Accept and set upsafeguards Answer RCA www.aCOWtancy.com
    10. 10. RCA
    11. 11. RCA Question ‘ What else must you consider before 3 accepting?
    12. 12. www.aCOWtancy.com
    13. 13. ‘Your own competence Answer RCA www.aCOWtancy.com
    14. 14. RCA
    15. 15. RCA Question ‘ What procedures must you carry out on 4 acceptance?
    16. 16. www.aCOWtancy.com
    17. 17. ‘Request to contact oldauditor RCADiscuss all info with oldauditor Answer www.aCOWtancy.com
    18. 18. RCA
    19. 19. RCA Question ‘ What if you dont get a reply from this etiquette 5 letter?
    20. 20. www.aCOWtancy.com
    21. 21. ‘Send again by recordeddelivery RCA Answer www.aCOWtancy.com
    22. 22. RCA
    23. 23. RCA Question ‘What if the old auditor tells you there are 6 outstanding fees?
    24. 24. www.aCOWtancy.com
    25. 25. ‘It may be ok.Just find out why Answer RCA www.aCOWtancy.com
    26. 26. RCA
    27. 27. RCA Question ‘What goes into the engagement 7 letter?
    28. 28. www.aCOWtancy.com
    29. 29. ‘Scope & ObjectiveResponsibilitiesPractical arrangements RCA AnswerForm of communicationFees www.aCOWtancy.com
    30. 30. RCA
    31. 31. ‘ What if the terms change?RCA Question 8
    32. 32. www.aCOWtancy.com
    33. 33. ‘Issue new letter Answer RCA www.aCOWtancy.com
    34. 34. RCA
    35. 35. RCA Question ‘All client info that the auditor has must be 9 returned to the client, unless..?
    36. 36. www.aCOWtancy.com
    37. 37. ‘It’s under a lien Answer RCA www.aCOWtancy.com
    38. 38. RCA
    39. 39. RCA Question 10 ‘ What is a lien?
    40. 40. www.aCOWtancy.com
    41. 41. ‘If you’re owed fees..You can retain therecords Answer RCA www.aCOWtancy.com
    42. 42. RCA
    43. 43. RCA Question 11 ‘ What is a general lien?
    44. 44. www.aCOWtancy.com
    45. 45. ‘You can retain therecordsUntil ALL fees are paid Answer RCA www.aCOWtancy.com
    46. 46. RCA
    47. 47. RCA Question 12 ‘ What is a particular lien?
    48. 48. www.aCOWtancy.com
    49. 49. ‘You can retain particularrecordsIf work performed andfee agreed Answer RCA www.aCOWtancy.com
    50. 50. RCA
    51. 51. RCA Question 13 ‘ Why have Quality control?
    52. 52. www.aCOWtancy.com
    53. 53. ‘Reduce RiskIncrease confidence inour firm Answer RCA www.aCOWtancy.com
    54. 54. RCA
    55. 55. RCA Question 14 ‘ Give examples of how leaders enhance quality
    56. 56. www.aCOWtancy.com
    57. 57. ‘TrainingMeetings / briefings Answer RCA www.aCOWtancy.com
    58. 58. RCA
    59. 59. RCA Question 15 ‘ How does quality effect planning?
    60. 60. www.aCOWtancy.com
    61. 61. ‘People (trained)Risk focussed work RCAConsult with experts AnswerSafeguards forindependence www.aCOWtancy.com
    62. 62. RCA
    63. 63. RCA Question 16 ‘ What is a hot review?
    64. 64. www.aCOWtancy.com
    65. 65. ‘Review before reportissuedAll listed companies RCA AnswerPublic interestRisky www.aCOWtancy.com
    66. 66. RCA
    67. 67. RCA Question 16 ‘ Why have a hot review?
    68. 68. www.aCOWtancy.com
    69. 69. ‘Quality of judgementseg Independence, risks RCATreatment of AnswermisstatementsConclusions www.aCOWtancy.com

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