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Miss, for PYQ March 2020 Q3(b) Beaufort Co – ethical and professional issues arising
The examiner answer :
“Frances Stein’s eight-year tenure as audit engagement partner creates a familiarity threat for Moritz & Co”
“In the case of Beaufort Co, therefore, Frances Stein has already served as a key audit partner for the maximum possible period of eight years and following the listing of the client next year”Whether Frances Stein is the key audit partner or audit engagement partner in this case? as this will affect the cooling-off period?
Thank you.
Per Q “responsibility for the audit” – I would take to mean the audit engagement partner.
See also here https://opentuition.com/topic/key-audit-partner-audit-engagement-partner
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