black and white people bar men

Audit and assurance revision question (NBAA, B3, NOV 2018)

(a)  Explain why is it important that an auditor should send a letter of engagement prior to undertaking an audit work.

(b)  Briefly describe the main contents of a letter of engagement.

(c)   Publicity  by  individual  professional  accountants  in  public  practice  in  non- advertising environment is  acceptable  under certain conditions as  provided for under the IFAC’s International Ethics Standards Board for Accountants (IESBA) Code of Ethics.

REQUIRED:

Briefly illustrate any four conditions in which publicity is acceptable.



(d)       The use of negative confirmation requests, ordinarily provides less reliable audit evidence than the use of positive confirmation requests. The auditor should consider performing other substantive procedures to supplement the use of negative confirmations.

REQUIRED:

Describe  the  situations  where  auditor  may  use  negative  confirmations  when collecting audit evidence.   

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