An auditing firm does not accept a client

Assignment Help Business Management
Reference no: EM13336411

The purpose is to help ensure that an auditing firm does not accept a client for which they do not have the manpower (woman power) or expertise to adequately service. Also, to help ensure that an auditing firm does not find out "too late" that the industry in which the new client operates is a high-risk industry - high-risk is fine only if you are prepared for it.
There are many journal articles out there about the topic of client approval. In the textbooks, look for the chapter on The Auditing Firms Required System of Quality Control or even specifically on approval/acceptance of new or continuing audit clients.
Step
1. Intro of company--A brief description of the company, including the history of the company. The Subject Organization can be any company, public or private, including not-for-profit organizations.

2. History of develop and recent develop- If the client is a public client, the date and purpose of the latest Financial Statement 8-K filing should be given. Specify by date filed the most recent Form 8-K filled by the company. State the subject of the 8-K
Do not include the financial statements - just the ratios that you think are relevant. Include ratios of a competitor, or of the industry

3. A clear statement that the potential client should, or should not be accepted. State your conclusions in the first paragraph of the report. Say something such as: "For the reasons given below, I recommend that we accept (or do not accept) ABC Co. as an audit client."

Reference no: EM13336411

Questions Cloud

The interest can be reinvested at 5% before tax : The interest can be reinvested at 5% before tax
Explain sulfuric acid has a dual role in the chemistry : Sulfuric acid has a dual role in the chemistry. What are its two roles in the recovery of copper metal
Explain the power delivered to a photodetector that collects : the power delivered to a photodetector that collects 8.0*10^7 photons in 3.8 ms from monochromatic light is 0.72 microwatt. what is the frequency of the radiation
Find the maximum acceleration of the prong : The prong of a tuning fork moves back and forth when it is set into vibration. what are the maximum velocity and the maximum acceleration of the prong
An auditing firm does not accept a client : An auditing firm does not accept a client for which they do not have the manpower (woman power) or expertise to adequately service. Also, to help ensure that an auditing firm does not find out "too late" that the industry in which the new clien..
Explain the ferroin concentration in the measured solution : If the experimentally determined calibration curve is Absorbance = 12100 M-1 * [ferroin (M)] + 0.00230 and the measured absorbance of a sample solution is 0.367, what is the ferroin concentration in the measured solution
How will you react to situation based on your responsibility : How will you react to the situation based on your responsibilities as an IT manager? In this situation, which policy should the organization follow?
Calculate the angular acceleration of the disk : A disk with a radius of 1.5 m whose moment of inertia is 34 kg · m2 is caused to rotate by a force of 160 N tangent to the circumference
The far effectively creates standards : Conclude whether or not the FAR effectively creates standards that will allow government contracts to meet the government's mandate that procurement create cost savings for the public, as well as assist in economic recovery. Provide a rational..

Reviews

Write a Review

 

Business Management Questions & Answers

  Discussion of alignment between a person with good morale

Show the role of people, products, and profits played in the decisions made regarding the Ford Pinto.

  Power and politics paper

Prepare a paper in which you: compare and contrast Power and Politics in organizations -

  Explain what is diversity

Explain what is diversity and how important is a definition of diversity for managers and companies and how much does it need to change, if at all, as we move from company to company, go across borders, or operate as a multi-national organization?

  Social psychologists as well as even sociologists

Social psychologists as well as even sociologists a lot of times talk about fragmentary identities that exist in people bicultural people

  Evolution of management

Examine the principles behind the new "learning organization." At what point has an organization transformed into a learning organization? Explain your rationale.

  Have a nice conflict - interview

Prepare a discussion response about a specific conflict you have experienced with someone else. Although preferred, the conflict does not have to be work-related.

  Illustrate what type of lawsuit might panda bring facts

Although customer service has in the past been an important factor in business buyer-seller relationships, its importance has been waning in the last decade.

  Explain how should be sold in order to maximize profits

There is a maximum of 4,050 direct labour hours available each year. If demand were equally strong for both packages also the industry could sell an unlimited number of either package, explain how many of which kind(s) of package(s) should be sold..

  Find out the four vanguard client services areas

Find out the four Vanguard client services areas of full-service institutional, investment-only institutional, core retail and high-net-worth retail using the Boston Consulting Group Matrix.

  Significant for not-for-profit organizations

The concept of competitive advantage is as significant for not-for-profit organizations as it is for profit organizations.

  Determine which structure best suits apple needs

Explain how organizational design help to determine which structure best suits Apple's needs. Explain how good of a job does BankBoston do in ensuring a diverse workforce in its efforts to motivate employees?

  Explain charlie jones a fireman for boulder county

Explain Charlie Jones, a fireman for Boulder County, Colorado, saw an ad for the vacation of his dreams in the local, "Boulder County Gazette."

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd