client acceptance memo essay

execute contracts with the new client. The management finds it necessary for workers and supervisors to refresh on the basic items and skills of contracts. This will facilitate effective and proper contract execution to the expectations of the client. The terms and skills for contracts will also enable the workers, supervisors and company management abide to the terms and conditions relating to a particular contract in order to avoid breach of a contract. The memo intends to create awareness on the

1. The client acceptance process can be quite complex.  Discuss five procedures an auditor should perform in determining whether to accept a client.  Which of these five are required by auditing standards and identify the applicable standards? 1. Obtain an understanding of the client 's business and operations. Consideration should be given to reading available financial information regarding the prospective client such as annual reports, registration statements, Forms 10-K, other reports to regulatory

1.1 The new client acceptance decision Mark S. Beasley · Frank A. Buckless · Steven M. Glover · Douglas F. Prawitt l ea r n ing o bje C t ive s After completing and discussing this case you should be able to [1] Understand the types of information relevant to evaluating a prospective audit client [2] List some of the steps an auditor should take in deciding whether to accept a prospective client Identify and evaluate factors important to the client acceptance decision [4] Understand

References “Accept Client and Perform Initial Planning 18-Oct-07 101807.doc/ Engagement Checklist 17-Jan-08 RevenueICQ.doc Engagement Letter draft 25-Oct-07 GA-1 Audit Staffing Memo 25-Oct-07 GA-2 Estimated Auditing fee $200,000 18-Oct-07 101807.doc/ Received 10-K Filing 26-Oct-07 10-K.doc Understanding the Client’s Business and Industry Received

SUMMARY Chris Perillo was offered to replace Michael Grant, who has resigned and gone to the competitor Universal Business Solutions, Inc. Previously, Perillo managed a group of 15 software developers, but now he is assigned with a bigger and more prestigious position; the Vice Presidency of Operations for Health and Financial Services. Chris needs to review all the material in the in-basket, as well as the voice mail and e-mail and prioritize the response to each item. Perillo must make good decisions

conflicts of interest that cannot be managed easily. This may exists as the firm may have other clients in this sector.  The staffs with the necessary skills are available. It may happen that the required staffs are occupied for other clients at a busy time of the year.  The firm is independent. There may be the problem relating to holding shares in the client or there may be staffs that are related to the client.  They seek the permission of the directors to communicate the present auditors. If same

resources are committed." This exercise illustrates this subtle, but very important, difference. Part A Using your files from Part 2 input resources and their costs if you have not already done so. All information is found in Tables 2 and 3. Prepare a memo that addresses the following questions: 1. Which if any of the resources are overallocated? 2. Assume that the project is time constrained and try to resolve any overallocation problems by leveling within slack. What happens? 3. What is the impact

Auditing Sample Case Study Memo Team D (Wayne Brown, Melissa Ginez, Matthew Gourlie, Juel Rypka) University of Phoenix ACC/491 Alisa Dumond December 19, 2011 ------------------------------------------------- interoffice memorandum to: John Smith, CEO Key west company from: Audit Team D subject: Audit Findings for Key West Company date: 12/18/2011 ------------------------------------------------- Dear Mr. Smith The purpose of this memo is to communicate to you the results

factor. The CEO of AA, Joe Berardino, was an extremely aggressive pursuer of revenue. This set a negative culture at the top of the company and partners were expected to comply and atttain that demand. In addition, AA recognized the retention of audit clients as imperative

committed." This exercise illustrates this subtle, but very important, difference. Part A Using your files from Part 2 input resources and their costs if you have not already done so. All information is found in Tables A2.7 and A2.8. Prepare a memo that addresses the following questions: 1. Which if any of the resources are overallocated? 2. Assume that the project is time constrained and try to resolve any overallocation problems by leveling within slack. What happens? 3. What is the impact