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

Contemporary Issues in Auditing - Assignment ExampleAn audit also includes assessing the accounting principles used and significant estimates made by management, as well up as evaluating the overall financial statement presentation. We believe our that our audit will provide a reasonable basis for our opinion.Our audit procedures will include rivulet of of documentary evidence supporting the transactions recorded in the transactions, tests of physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected customers, creditors, reasoned counsel, and banks. At the conclusion 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 clock date spent by various members of our audit staff at our regular rates, pus direct direct expenses. We will notify you immediately if any good deal we encou nter that could significantly affect our initial audit fee estimate fIn order to us to work as efficiently as possible, it is silent 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 synopsis expound on the separate 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 regular rates, pus direct direct expenses. We will notify you immediately if any lot 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 described 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____________________DateEthical Part cover 15%- The information that should be passed to the new auditors- head from previous auditor To the Stockholders,Rentokill InitialLondonNovember 28, 2007Dear sir/maaam It is standard operating procedure that a new external auditor must contact your companys motive external auditor. Thus, please send us recommendation letter addressed to your prior