Question

Your firm has been selected by the Auditor General to carry out the next year’s audit,...

Your firm has been selected by the Auditor General to carry out the next year’s audit, but before AGO engages your firm, the Auditor General has asked to meet with your firm’s Partner. The senior partner has asked you to accompany him for this meeting. He has requested you to prepare a brief of the organization, your findings regarding your review of previous audits highlighting three areas of concern and prepare questions to ask the Auditor general and client if attending regarding the integrity of management (client). He has also asked you to assess your firm’s competence to perform the audit. The brief to your senior partner will be no more than three pages. You are required to attach as appendix the audit report selected.

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Answer #1

Being an auditor it is the duty of the auditor to have a full knowledge about his client.
Knowledge about the business of his client is also very important.

As audit firm carries out the process of audit of any organisation/business and before carrying out any audit a meeting with Auditor general and the client is fixed.

This would ensure the better understanding between the auditor and the client.
Areas concerning should be the purchase of raw materials receipts, all the parties related to the business and the revenue generated by a business.

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