Task 1

It is important that an auditor should comply with fundamental principles and ethical behavior while accepting and conducting an audit. Explain fundamental principles and ethical conduct that auditors should always maintain with their clients.

Task 2

Why audit planning is an important audit function? Explain how Peter & Co is lagging in planning of the stated audits?

Task 3 Discuss the conduct of Mr. George in his profession as an auditor. State clearly whether he fulfilled the necessary qualities of being an auditor and explain what are the appropriate actions that the audit firm can take to safeguard and implement ethical conduct.

Task 4 Critically comment on Ms. Nancys acceptance of the bank audit and explain what are the necessary steps that should be taken before accepting an audit engagement.