As described in this chapter, auditors are required to communicate certain issues with the predecessor auditor before

Question:

As described in this chapter, auditors are required to communicate certain issues with the predecessor auditor before accepting a new engagement. These issues include the reason for the change, the nature of any disagreements with management, identification of any important risk areas or control weaknesses, and prior experience with fraud or illegal acts. Describe why you believe that this requirement is important for both the protection of the subsequent auditor and the capital market in general.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Auditing Assurance And Risk

ISBN: 9780324313185

3rd Edition

Authors: W. Robert Knechel, Steve Salterio, Brian Ballou

Question Posted: