a. What does the term predecessor auditor mean? What does the term successor auditor mean? b. In
Question:
a. What does the term predecessor auditor mean? What does the term successor auditor mean?
b. In the new AICPA auditing standard, “Inquiries of the Predecessor Auditor Regarding Fraud and Noncompliance with Laws and Regulations,” the successor auditor must communicate with the predecessor auditor about known or suspected fraud and/ or noncompliance with laws and regulations, but only if client management consents to such communications. Why is management consent necessary? Why is it a red flag to the successor auditor if management refuses to give such consent?
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a Inquire of client and audit firm personnel whether there are any potential independenceimpairing r...View the full answer
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Related Book For 
Auditing A Risk Based Approach
ISBN: 9780357721872
12th Edition
Authors: Karla M Johnstone-Zehms, Audrey A. Gramling, Larry E. Rittenberg
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