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By reference to International Standards on Auditing (UK) 210 Agreeing the terms of audit engagements, summarise the Preconditions for an audit and explain briefly why

By reference to International Standards on Auditing (UK) 210 Agreeing the terms of audit engagements, summarise the Preconditions for an audit and explain briefly why each of these are important from an Agency Theory perspective and need to be established before an auditor can accept appointment. (18 marks)

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