a.
Introduction: Audit firms could be in the form of small local firms, regional firms, or national firms. Owners may choose a type of audit firm by considering various factors such as size and complexity of firm and the nature of services to be performed.
To identify: The reason due to which management may want an independent audit to be conducted.
b.
Introduction: Audit firms could be in the form of small local firms, regional firms, or national firms. Owners may choose a type of audit firm by considering various factors such as size and complexity of firm and the nature of services to be performed.
To identify: The factors that would be considered while deciding the type of audit firm
c.
Introduction: Audit firms could be in the form of small local firms, regional firms, or national firms. Owners may choose a type of audit firm by considering various factors such as size and complexity of firm and the nature of services to be performed.
To list: The users that might be interested in the financial results.
Want to see the full answer?
Check out a sample textbook solutionChapter 1 Solutions
Auditing: A Risk Based-Approach to Conducting a Quality Audit