Contemporary Issues in Auditing Assignment Example | Topics and Well Written Essays - 3000 words

Contemporary Issues in Auditing - Assignment ExampleAn scrutinize also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe our that our scrutinize will provide a reasonable basis for our opinion.Our audit procedures will include test of of documentary evidence supporting the transactions recorded in the transactions, tests of material existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected customers, creditors, legal counsel, and banks. At the shutting of our audit, we request certain written representations from you about the financial statements and other related matters.Our fees for this audit will be based on the time spent by various members of our audit staff at our uniform rates, pus direct direct expenses. We will notify you immediately if any circumstances we encounte r that could importantly affect our initial audit fee estimate fIn order to us to clear as efficiently as possible, it is understood that your accounting staff will provide us with the precedent years attempt balance on or before January 15, 2008, and also with the schedules and and account analysis described on the purloin attachment.It is standard operating procedure tha... ..................... February 20, 2008 Delivery of audit report......................... March 5, 2008 Our fees for this audit will be based on the time spent by various members of our audit staff at our fix rates, pus direct direct expenses. We will notify you immediately if any circumstances we encounter that could significantly affect our initial audit fee estimate f8,000. In order to us to work as efficiently as possible, it is understood that your accounting staff will provide us with the prior years trial balance on or before January 15, 2008, and also with the schedules and and account analysis de scribed on the separate attachment. If these arrangements re in accordance with your understanding, please sign this letter in the space provided and return to a copy to us at your earliest convenience. Very truly yours,----------------------------------- Carter and Corbin Chartered AccountantsAccepted by____________________ understandEthical Part cover 15%- The information that should be passed to the new attendees- clearance from previous listener To the Stockholders,Rentokill InitialLondonNovember 28, 2007Dear sir/maaam It is standard operating procedure that a new external auditor must contact your companys former external auditor. Thus, please send us recommendation letter turn to to your prior