You are an audit graduate working for an audit firm. A client has said to you that you seem to be endlessly documenting matters and queries is this necessary as it is undoubtedly increasing the cost of the audit.
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You are an audit graduate working for an audit firm. A client has said to you that you seem to be endlessly documenting matters and queries is this necessary as it is undoubtedly increasing the cost of the audit.
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- You are an audit graduate working for an audit firm. A client has said to you that you seem to be endlessly documenting matters and queries is this necessary as it is undoubtedly increasing the cost of the audit. REQUIRED Succinctly explain what your answer to the client should be.You are an independent auditor attending an engagement interview with the client. The client’s organization has recently implemented a data warehouse. Management is concerned that the audit tests that you perform will disrupt operations and suggests that instead of running tests against the live operational database, you draw the data for your analytical reviews and substantive tests of details from the data warehouse. Management points out that operational data are copied weekly into the warehouse and everything you need will be contained there. This will enable you to perform your tests without disrupting routine operations. You agree to give this some thought and get back to the client with your answer. Required Draft a memo to the client outlining your response to their proposal. Mention any concerns you might have.You are currently working in a mid-tier accounting firm. In an engagement meeting with a client, the management of your client is concerned that the audit tests that you perform will disrupt operations. Your client has recently implemented a data warehouse and the management suggests that you draw the data for analytical reviews and substantive testing from the data warehouse instead of the operational database. The management points out that operational data are copied weekly into the data warehouse and all data you need are contained there. Outline your response to the management’s proposal and mention any concerns you might have. (maximum 300 words)