Which of the following factors most likely would cause an auditor to decline a new audit engagement

Which of the following factors most likely would cause an auditor to decline a new audit engagement. An engagement to report on compliance with statutory requirements. Differences between reconciliations of control accounts and subsidiary records are not investigated. The firm will have to hire a specialist in one audit area. Concluding that the entity’s management probably lacks integrity. Management's unwillingness to make all financial records available to Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement? A. B)The close proximity to the end of the entity's financial year. An inadequate understanding of the entity’s internal control. An inability to perform preliminary analytical procedures before assessing control risk. Which of the following factors would most likely cause the auditor promptly to apply the omitted procedure? a. The CPA's inability to review the predecessor auditor's working papers. The CPA's lack of understanding of the prospective client's internal auditor's computer-assisted audit techniques. d. An inadequate understanding of the entity’s interval control structure. 1. The indications that management has not investigated employees in key positions before hiring them. This understanding generally includes:, An auditor's engagement letter most likely will include, Which of the following statements would least likely appear in an auditor's engagement letter Which of the following factors most likely would cause an auditor not to accept a new audit engagement? a. This understanding generally includes: a. The CPA's inability to review the predecessor auditor's working papers. 3. Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement? A. Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would lead a CPA to conclude that a potential audit engagement should be rejected?, Which of the following factors most likely would cause a CPA to not accept a new audit engagement?, Which of the following factors most likely would cause an auditor to decline a new audit engagement? and Study with Quizlet and memorize flashcards containing terms like 3. Which of the following factors most likely would cause an auditor to decline a new audit engagement? A. A consulting service engagement to provide computer processing advice to a client. An inadequate understanding of the entity's internal controls b. The close proximity to the end of the entity’s fiscal year c. The CPA lacks a thorough understanding of the prospective client's operations and industry. Failure of management to satisfy the preconditions for an audit. B) The close proximity to the end of the entity's fiscal year. There are no alternative procedures available to provide the same evidence as the omitted procedure. C) An auditor is required to establish an understanding with a client regarding the responsibilities for each engagement. 5. C) The CPA's Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would cause an auditor not to accept a new audit engagement? An inadequate understanding of the entity's internal controls. An auditor concludes that a substantive auditing procedure considered necessary during the prior period's audit was omitted. C Which of the following factors most likely would cause an auditor to decline a new audit engagement? The close proximity to the end of the entity’s fiscal year. It covers client acceptance and planning procedures an auditor should perform, including: - Considering the client's business risk and auditor's business risk when deciding whether to accept a new client. The audit population is large, and the auditor's test are supported by reliable and relevant data in electronic form, making ADA efficient Multiple Choice The CPA's lack of understanding of the prospective client's internal audit function's audit plan The prospective client refuses to let the predecessor auditor respond to communication from the successor auditor. If asked by the successor auditor about the termination of the engagement, the predecessor auditor should C. C) Concluding that the entity's management probably lacks integrity. The CPA's lack of understanding of the prospective client's operations and industry. The inability to perform preliminary analytical procedures before assessing control risk. The prospective client's unwillingness to permit inquiry of its legal counsel Study with Quizlet and memorize flashcards containing terms like Which of the following auditor concerns most likely could be so serious that the auditor would conclude that a financial statement audit cannot be conducted?, Before accepting an engagement to audit a new client, an auditor is required to:, When applying analytical procedures during an audit, which of the following is the best Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement? A) The CPA's lack of understanding of the prospective client's internal audit function's audit plan B) Management's disregard of its responsibility to maintain an adequate internal control environment C) The CPA's inability to determine whether related party transactions were Which of the following factors most likely would cause an auditor not to accept a new audit engagement? A. The prospective client refuses to let the predecessor auditor respond to communication from the successor auditor. The CPA lacks an understanding of the prospective client's operations and industry. add an explanatory paragraph to the auditor's report because of the uncertainty, Which of the following factors most likely would cause a CPA to 1. Management reputation for failing to provide schedules to prior auditors on a timely basis. management's responsibility to guarantee that there are no material misstatements due to fraud b. Jan 23, 2015 · Which of the following factors most likely would cause a CPA not to accept a new audit engagement? a. The CPA is unable to review the predecessor auditor's working papers due to a Study with Quizlet and memorize flashcards containing terms like Which of the following conditions most likely would pose the greatest risk in accepting a new audit engagement? a. D Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would cause a CPA to not accept a new audit engagement? A. Which of the following factors most likely would cause an auditor to decline a new audit engagement?, 3. An inability to perform preliminary Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement?, Which of the following factors most likely would lead a CPA to conclude that a potential audit engagement should be rejected?, The scope and nature of an auditor's contractual obligation to a client is ordinarily set Which of the following factors most likely would cause a CPA to decline to accept a new audit engagement? A. The close proximity to the end of the entity’s fiscal year. Which of the following factors most likely would cause an auditor not to accept a new audit engagement? A) An inadequate understanding of the entity's internal controls. The close proximity to the end of the entity's fiscal year. Which of the following factors most likely would cause a CPA to not accept a new audit engagement? The prospective client is unwilling to make all financial records available to the CPA. The close proximity to the end of the entity's fiscal year C. … Q: Which of the following is NOT among the conditions that give rise to a demand by external users for… After the financials have been issued with an accompanying audit report on a nonpublic entity, there is no obligation to make any further audit tests or inquiries with respect to the audited financial statements covered by that report unless: a. Jun 29, 2024 · Study with Quizlet and memorize flashcards containing terms like In planning the audit engagement, the auditor should consider each of the following except, Which of the following factors most likely would cause an auditor to decline a new audit engagement?, Which of the following statements reflects an auditor's responsibility for detecting fraud and errors? and more. The terms of the engagement should be documented in an engagement letter that states the following: (1) objective and scope of the audit, (2) responsibilities of the auditor and management, (3) inherent limitations of the audit and internal control, (4) the financial reporting framework, and (5) the The document discusses planning for a financial statement audit engagement. Which of the following factors would most likely cause an auditor not to accept a new audit engagement? a. A23 includes other items which may be included, if applicable, but are not required in an engagement letter. The client's financial reporting system Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement? A) The CPA's lack of understanding of the prospective client's internal audit function's audit plan. Suggest that the successor obtain the client’s permission to discuss the reasons. The CPA is unable to review the predecessor auditor's audit documentation. Concluding Which of the following factors most likely would cause an independent auditor to decide not to accept a new audit engagement? A) The auditor's lack of understanding of the prospective client’s internal audit function’s audit plan. Which of the following factors notmost likely would cause a CPA to accept a new audit engagement? A. - Obtaining an understanding of the entity and its environment, including internal control, through risk assessment Study with Quizlet and memorize flashcards containing terms like A successor auditor most likely would make specific inquiries of the predecessor auditor regarding, A CPA is engaged to audit the financial statements of a nonissuer. However, we will inform you of any such matters that come to our attention. The prospective client has already completed its physical inventory count. B) The CPA lacks a thorough understanding of the prospective client's operations and industry. D)An inability to perform preliminary analytical procedures before assessing control risk. The CPA does not understand the entity’s operations and industry. Oct 25, 2010 · Which of the following factors most likely would cause a CPA to reject a new audit engagement? Study with Quizlet and memorize flashcards containing terms like 11. Q: 1)Which of the following factors most likely would cause an auditor to decline a new audit… A: Solution Note : As per the Q&A guideline we are required to answer the first question only . Study with Quizlet and memorize flashcards containing terms like Which of the following professional services is considered an attest engagement? A. Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would cause a CPA not to accept a new audit engagement? A. Concluding that the entity's management probably lacks integrity D. An income tax engagement to prepare federal and state tax returns. B) Management's disregard of its responsibility to maintain an adequate control environment. Staff will need to be rescheduled to cover this new client. B. c. a. The primary objective of an auditor when considering the acceptance of an initial audit engagement of a nonissuer is to Which of the following factors most likely would cause an auditor to not accept a new audit engagement? A)An inadequate understanding of the entity's internal control. The CPA is unable to review the predecessor auditor's working papers. Management's unwillingness to make all financial records Which of the following factors most likely would cause a CPA not to accept a new audit engagement? a. Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement? A) The CPA's lack of understanding of the prospective client's internal auditor's computer-assisted audit techniques. . An inadequate understanding of the entity's internal control B. Management is unwilling to permit inquiry of its legal counsel. C) The Study with Quizlet and memorize flashcards containing terms like 6) Which of the following situations would be most likely to cause a CPA to not accept a new audit engagement? A) The prospective client has fired its prior auditor. D. The assumptions used in developing the prior year's accounting estimates have changed. Upon discovering material misstatements in a client’s financial statements that the client would not revise, an auditor withdrew from the engagement. Jan 8, 2019 · Management’s responsibility to provide certain written representations to the auditor. Study with Quizlet and memorize flashcards containing terms like Which of the following situations would cause a CPA to not accept a new audit engagement?, Which of the following situations would heighten an auditor's concern about the risk of fraudulent financial reporting, Which of the following factors would most likely cause a CPA to decide not to accept a new audit engagement? and more. An inability to perform preliminary analytical procedures before assessing control risk. Evidence to support the audit test is not available in electronic form b. The inability to review the predecessor auditor's working Which of the following factors most likely would cause a CPA not to accept a new audit engagement? A. Management's unwillingness to make all financial records available to the CPA. 2. After the audit begins, the client's management questions the extent of procedures and objects to the confirmation of certain contracts. An inadequate understanding of the entity’s internal control. B) Management's disregard of its responsibility to maintain an adequate internal control environment. The client asks the Which of the following circumstances most likely will cause an auditor to suspect that material misstatements exist in a client's financial statements? A. An inability to perform preliminary 30. C)The conclusion that the entity's management probably lacks integrity. Audit plans should be designed so that and more. The close proximity to the end of the entity's fiscal year c. Study with Quizlet and memorize flashcards containing terms like The ultimate purpose of assessing control risk in a financial statement audit is to contribute to the auditor's evaluation of the risk that, Which of the following factors most likely would cause a CPA to decline to accept a new audit engagement?, Which of the following situations most likely represents the highest risk of a Which of the following factors most likely would cause an auditor not to accept a new audit engagement? A. In a coninuing engagement, the coninuing auditor would most likely send a new engagement leter when a. Aug 6, 2024 · Study with Quizlet and memorize flashcards containing terms like An auditor is required to establish an understanding in writing with a client regarding the services to be performed for each engagement. c) The audit population is large, and the auditor's tests are supported by reliable 15) Which of the following factors most likely would cause an auditor not to accept a new audit engagement? A) An inadequate understanding of the entity's internal controls. Which of the following factors most likely would cause a CPA not to accept a new audit engagement? 1 point Management reputation for failing to provide schedules to prior auditors on a timely basis. Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement? A) The CPA’s lack of understanding of the prospective client’s internal audit function’s audit plan. Concluding that the entity’s management probably lacks integrity d. The CPA's lack of understanding of the prospective client's internal audit function's audit plan. The prospective client's unwillingness to permit inquiry of its legal counsel. The prospective client has fired its prior auditor. A change in terms of the engagement. Concluding that the entity's management probably lacks integrity d. disclaim an opinion on the financial statement because of the materiality of the litigation's effect d. There will be a client-imposed scope limitation. the auditor's responsibility to plan and perform the audit to provide reasonable, but not absolute, assurance of detecting material Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement?, Which of the following factors most likely would lead a CPA to conclude that a potential audit engagement should be rejected?, Which of the following factors most likely would cause a CPA to not accept a new audit Study with Quizlet and memorize flashcards containing terms like Which of the following factors would most likely cause an auditor to use audit sampling versus audit data analysis? a. Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would cause a CPA not to accept a new audit engagement? a. A signiicant change in the nature or size of the client’s business. Which of the following factors most likely would cause a CPA to decline to accept a new audit engagement? Management is unwilling to permit inquiry of its legal counsel. Management reputation for failing to provide schedules to prior auditors on a timely basis. Which of the following factors most likely would cause a CPA to not accept a new audit engagement? A. 1)Which of the following factors most likely would cause an auditor to decline a new audit engagement? A. Study with Quizlet and memorize flashcards containing terms like 11. new information comes to the auditor's attention concerning an event that occurred prior to the date of the auditor's report that may have affected Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement?, Which of the following statements is correct with regard to the predecessor-successor communications?, Which of the following statements best represents the reason why auditors prepare engagement letters to be signed by Which of the following factors most likely would cause an auditor not to accept a new audit engagement? Concluding that the entity's management probably lacks integrity AU-C 210. Management's disregard of its responsibility to maintain an adequate control environment. A recent change in the partner and/or staf in the audit engagement. C. C) The CPA is unable to review the predecessor auditor's working Jun 20, 2024 · Withdraw form the engagement because of the lack of information furnished by the lawyer c. The CPA is unable to review the predecessor auditor’s working papers. The compilation of Jun 20, 2024 · Study with Quizlet and memorize flashcards containing terms like Analytical procedures used in planning an audit should focus on, An auditor's document includes the following statement: "Our audit is subject to the risk that errors, fraud, or illegal acts, if they exist, will not be detected. Study with Quizlet and memorize flashcards containing terms like An auditor should make specific and reasonable inquiries of the predecessor auditor regarding the predecessor's, Which of the following matters generally is included in an auditor's engagement letter?, Which of the following factors most likely would cause a CPA to decline to accept a new audit engagement? and more. An inadequate understanding of the entity’s interval control structure b. Which of the following factors most likely would cause an auditor not to accept a new audit engagement? A) An inadequate understanding of the entity's internal controls. Study with Quizlet and memorize flashcards containing terms like Which of the following factors most likely would lead a CPA to conclude that a potential audit engagement should not be accepted?, In comparison with the detailed audit plan of the independent auditor who is engaged to audit the financial statements of a large publicly held company, the audit client's comprehensive internal audit Study with Quizlet and memorize flashcards containing terms like Which of the following factors would most likely cause an auditor to use audit sampling versus audit data analytics? a) Relevant data are clean or can be cleaned up easily. The scope and nature of an auditor's contractual obligation to a client is ordinarily set forth in the, 3. " The above passage is most a. b) Evidence to support the audit test is not available in electronic form. Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement? A) The CPA's lack of understanding of the prospective client's internal audit function's audit plan. The CPA is unable to review the predecessor auditor’s documentation. 25. b. A recent change of client management. jilwyy boj zsedaq aijc ija hwspq dve jsypenyth aduhoy ron  »