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Using the specific information provided, evaluate the matters that should be considered before accepting the audit engagement, in the event of your firm being successful in the tender.
ma’am I am tad bit flustered here. I have always thought that initial screening of the client is done by the auditor before tendering. But here as far as the way question is framed it seems that after a tender is successful the audit firm does the screening.
where am I going wrong ma’am?
I agree it is potentially confusing – the “in the event ….” doesn’t help, it is just saying assuming that you are in the position to accept the engagement because you have been nominated (for which the tender would have to be successful). It only asks for matters before … it doesn’t say matters between tendering and nomination. And “initial screening of the CLIENT” (as in “know your client”) is only one matter in any case. Factors like resourcing the audit is not “screening”.
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