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roached by Pione duct an audit for ements for the ye lohns asked Pior

roached by Pione duct an audit for ements for the ye lohns asked Pior

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Smith and Johns, a CPA firm, was approached by Pioneer Company to conduct an audit for its financial statements for the year 2020. Smith and Johns asked Pioneer Company to grant it an approval to contact the predecessor auditor before giving its acceptance on the new engagement. Smith and Johns would most probably inquire the predecessor auditor about the following issue(s): * Management integrity Fraud and illegal acts committed in pri years Reasons for change of auditors All of the above None of the above
Transcribed Image Text:Smith and Johns, a CPA firm, was approached by Pioneer Company to conduct an audit for its financial statements for the year 2020. Smith and Johns asked Pioneer Company to grant it an approval to contact the predecessor auditor before giving its acceptance on the new engagement. Smith and Johns would most probably inquire the predecessor auditor about the following issue(s): * Management integrity Fraud and illegal acts committed in pri years Reasons for change of auditors All of the above None of the above
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