2.1 - Sources of Information about New Clients Flashcards
1
Q
What are the first two sources of information about new clients?
A
- enquiries of other sources
- review of documents
2
Q
What are the other two sources of information about new clients?
A
- previous accountants/auditors
- review of rules and standards
3
Q
Enquiries of other sources
A
Bankers, solicitors
4
Q
Review of documents
A
Most recent annual accounts, listing particulars, credit ratings
5
Q
Previous accountants/auditors
A
Previous auditors should be invited to disclose fully all relevant information
6
Q
Review of rules and standards
A
Consider specific laws/standards that relate to the industry
