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It is 1 July 20X5. You are an audit manager with Tick & Co and are currently planning the audit of Office Spaces Co, a
It is 1 July 20X5. You are an audit manager with Tick & Co and are currently planning the audit of Office Spaces Co, a listed property leasing company. Tick & Co has audited Office Spaces Co for a number of years and the company's year end is 31 July 20X5. Fees and other services Tick & Co is considering other services it may engage in with Office Spaces Co. The external audit fee amounts to $690,000 per annum. In addition, Tick & Co provides other services to Office Spaces Co worth $263,000 per annum. The firm's total fee income for the current year is estimated at $6.2m, including all the fees from Office Spaces Co. Fees in the previous year were at very similar levels. Audit engagement partner Desmond has been the audit engagement partner for six years. He is due to retire once the current year audit is complete. Tick & Co is currently considering who will be best placed to take over the role from 20X6 and has four candidates in mind: Manisha Rajesh Lorenzo Bill has been engagement quality control reviewer on the Office Spaces Co audit for the last seven years was the audit engagement
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