Page 47 - AA Integrated Workbook STUDENT 2018-19
P. 47
Ethics and acceptance
Acceptance
2.1 Accepting/continuing an audit engagement
An audit firm should only take on clients and work of an appropriate level of risk.
The following matters should be considered before accepting a new engagement or
client.
Acceptance
considerations
Continuance
Once the audit is complete, the audit firm must revisit the acceptance considerations
to ensure it is appropriate to continue with the engagement for the following year.
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