why are each of the following factors considered prior to accepting a new audit client
1. The outgoing auditors response
2. Management integrity
3. Pre-conditions of an audit
4. Independence and objectivity
5. Resources available at the time of the audit
Ask the Tutor ACCA AA
Acceptance of audit
6y ago#11. Because there may be some professional reason to not accept
2. Because if management lacks integrity what is that likely to mean for internal controls and financial statements
3. Because an audit cannot be accepted if either of the preconditions are not met (see bottom of
page 20)
4. Because it's an INDEPENDENT auditor's report
5. Because insufficient resources would make the auditor incompetent/lacking in due professional care
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