Which of the following should an auditor obtain from the predecessor auditor prior to accepting an...

Which of the following should an auditor obtain from the predecessor auditor prior to accepting an audit engagement?

a. Analysis of balance sheet accounts.

b. Facts that might bear on management integrity

c. All matters of continuing accounting significance.

d. Analysis of income statement accounts.

Solutions

Expert Solution

Answer : b) Facts that might bear on management integrity

Before accepting the audit engagement, the successor auditor should obtain information from predecessor auditor which may help successor auditor in deciding whether to accept the such engagement or not, including facts that might bear on the integrity of management from previous auditors.

The Inquiries should be made by successor auditor specifically regarding matters that includes the integrity of management that might be disagreements regarding Accounting methods , Accounting Principles, other matters that may be the reasons for the change of the auditor.

The other three options are not correct as the information mentioned in them can be obtained by an auditor even after accepting an engagement.

All the other option given i.e

Analysis of balance sheet accounts.
All matters of continuing accounting significance.
Analysis of income statement accounts.

might be obtained after accepting an audit engagement.

ekkarill92 answered 1 year ago

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