Week 2 - Resignation of Previous Auditor / Appointment as Auditor

Question 1

What is the first step you should take after accepting a nomination?

Answer 1

Ensure outgoing auditor removal or resignation properly conducted in accordance with legislation - check paperwork

Question 2

What is the second step you should take after accepting a nomination?

Answer 2

Ensure the new auditor appointment is valid. Look for a copy of resolution passed at company general meeting

Question 3

What is the first step you should take once appointed?

Answer 3

Write and submit a Letter of Engagement to the client

Question 4

What is the second step you should take once appointed?

Answer 4

Obtain all client books and papers from the outgoing auditors plus any other information they may be able to supply

Question 5

Same principles for the steps to take once appointed also apply to…

Answer 5

All assurance engagements