CIS | Q3

It mandates that accounting firms including sole practitioners establish policies and procedures for accepting and continuing client relationships and specific engagements.

• PSA210

• PSA 300

• PSQC 1

• PSQC 100

It outlines activities to be undertaken before starting an initial audit.

• PSQC 100

• PSA 300

• CPA 300

• PSA210

The limitations of this client acceptance could lead to the auditor disclaiming an opinion on the financial statements

• PSA 200

• PSA 100

• PSA 300

• PSA 210

It emphasizes that the auditor should not accept an engagement if management or those charged with governance impose limitations on the scope of the auditor’s work

• PSA 210

• PSA 110

• PSA 310

• PSA 300

It involves devoting attention to critical areas, Identifying and resolving potential problems promptly and assessing risks and developing an audit strategy.

• Client Acceptance

• PSA 210

• Audit Acceptance

• Audit planning

• Audit Assessment

This lay the foundation for a well-executed financial statement audit.

• client acceptance and thorough planning

• client planning and thorough acceptance

• client integrity

• risk factors

• continual assessment