Block 2 - Proposal Document, Advertsing, Fees Guidance Flashcards
1
Q
Proposal document
A
2
Q
Communicate
A
3
Q
Interest
A
4
Q
Fees
A
5
Q
Basis of fees
A
6
Q
Paid
A
7
Q
Responsibilities of auditor
A
8
Q
How perform consolidation
A
9
Q
Outline of the firm
A
How big, number of partners, key strengths
10
Q
Expectations
A
I.e. on fees, deadlines, competence
11
Q
Honest
A
Yes or no, and why
12
Q
Advertisement
A
13
Q
Marketing
A
14
Q
Attract business
A
15
Q
Bring disrepute
A
Like free business advice, implying services are cheap
16
Q
Discredit directly or indirectly other firms
A
E.g. claiming to be number one
17
Q
Misleading
A
False statements on operations and affiliations
18
Q
Fees
A
19
Q
Fair/reasonable
A
20
Q
Basis
A
21
Q
Proposal document
A
22
Q
Engagement letter
A
23
Q
First year audit
A
Resources, time required, listed company more due care, more professional scepticism
24
Q
Contingent basis
A
25
Self-interest threat
26
Fees increase
Explain to client hey
27
Gradual fee fall
Knowledge of business increases, no change to size or complexity, risk and work and efforts fall over time
