Before accepting an engagement to audit a new client, a CPA is required to obtain:A.Before accepting an engagement to audit a new client, a CPA is required to obtain:B.The prospective client's signature to the representation letterC.A preliminary understanding of the prospective client's ...
Pay particular attention to new vendors that provide services (e.g., consulting) rather than physical products (e.g., inventory). Physical products leave audit trails; services, less so. How can you test for fictitious vendors? Obtain a download in Excel of new vendors and their addresses fo...
The engagement letter is a written agreement between the client and the CPA firm performing the audit, and some components of the engagement letter may be confusing to exam candidates. An auditor uses judgment when selecting the audit procedures to be performed, and there is not one set of pro...
Path to Audit Transformation: Cloud, Connect, CreateInsights to help accelerate your firm’s journey toward audit transformation on your own terms Additional Whitepaper: Auditing in the Future Podcast Series: Modernizing Your A&A Practice
Scope engagements through comprehensive engagement letter and service level agreement construction. Find and recruit top talent to manage your outsourced accounting services. And more... What They Are Saying Great experience! Learned a lot and was given a lot of tools. I will definitely recommend th...
CPAs will need to look to one of three sets of AICPA standards for guidance in the performance of their services. The Statement on Standards for Consulting Services (SSCS-1), the Statement on Standards for Forensic Services (SSFS-1), or the Statement on Standards for Valuation Services (SS...