What Makes A Cpa Firm? A Competitive Professional Field, And The Most Cpa Firms?

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Pubic accounting is a very competitive professional field, and the most CPA firms are anxious to obtain new clients. The client acceptance of engagements procedures can be done easily done through business transactions, however, it depends on the firms’ desire whether to establish client and auditor relationship after evaluating the risk associated with a client and maintaining the integrity of the securities. There are not any CPA firms would have business transaction with someone who have engaged in fraudulent activities and misleading business practices that might create a breach of the accounting firm’s professional obligations. Therefore, this paper is going to address about how a CPA firm obtains its clients and what they look for in clients depending on the given information.
Accepting Tierra Corporation as an Audit Client During audit process, an auditor must express her opinion on the fairness of the financial statements because integrity, objectivity and reputation are the most essential point of auditing (Whittington & Pany, 2014). Before accepting any engagement, the firm should establish quality control for investigating all the future clients and their past business activities including any fraudulent and inaccurate financial statements. Tierra Corporation would be the one of the fraudulent example that the company did not report the sale of the land on their financial statement in the past during the audit by IRS. Due to misstatement on the financial

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