What Should a PA Do If Approached by a Client

question 65

Multiple Choice

What should a PA do if approached by a client where he and his firm lack or do not have access to the technical knowledge required to complete the audit?

• A)subcontract the audit to another firm
• B)indicate that they can do a review engagement,not an audit
• C)decline the new audit engagement
• D)conduct the engagement,but prepare a qualified audit report

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Definitions:

Compressed Workweeks

Work schedules that allow employees to complete their usual work hours in fewer days, often involving longer individual work days.

Social Aspects

The dimensions of an issue, activity, or situation that involve the interactions and relationships between individuals or groups.

Required Number of Hours

The specific number of hours employees are mandated to work within a certain period, as stipulated by their employment contract or company policy.

Group Incentive System

A compensation system that rewards a group of employees for achieving certain performance targets, designed to foster teamwork and collective achievement.