You are a CPA and have accepted a new client for an audit engagement. You come to realize that the client’s industry is more complex and technical than your initial assessments. In fact, you realize you are not competent to audit in certain areas of this client. What are your options?
You are a CPA and have accepted a new client for an audit engagement. You come to realize that the client’s industry is more complex and technical than your initial assessments. In fact, you realize you are not competent to audit in certain areas of this client. What are your options?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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a - You are a CPA and have accepted a new client for an audit engagement. You come to realize that the client’s industry is more complex and technical than your initial assessments. In fact, you realize you are not competent to audit in certain areas of this client. What are your options?
b - Audits that involve information technology can require special technical knowledge and skill. Name two credentials (designations) that demonstrate competency in auditing information technology. Also, please name the organizations who sponsor these credentials.
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