PA503-chapter 3

November 24, 2014  |  By  | 

Page 2 Preliminary Engagement Activities The auditor should undertake the following activities at the beginning of the current audit engagement: i.Performing procedures required by ISA 200,Quality Control for Audits of Historical Financial Information,regarding the continuance of the client relationship and the specific audit engagement ii.Evaluating compliance with ethical requirements, including independent as required by ISA 220, and iii.Establishing an understanding of the terms of the engagement, as required by ISA 210, Term of Audit Engagement. Before engagement, the proposed or new auditor should obtain ethical clearance from the existing auditor as to whether there is any professional reasons why he should not accept the appointment.

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