• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exams

How was your exam? Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

Help with preconditions for audit.

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Help with preconditions for audit.

  • This topic has 2 replies, 2 voices, and was last updated 8 years ago by mysoul.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • February 24, 2017 at 7:57 am #373973
    mysoul
    Member
    • Topics: 28
    • Replies: 30
    • ☆☆

    Hey Sir,
    Good morning,
    – I wish you clarify me on this issues. when we talk of preconditions for accepting an audit, are we talking of accepting a new audit client?
    – what steps should an audit firm take to confirm whether the preconditions of an audit are in place.

    will highly appreciate your timely feedback sir.

    Gold

    February 24, 2017 at 8:57 am #373986
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10591
    • ☆☆☆☆☆

    No, this is separate from general acceptance of a new audit client (ethics etc). However,

    ISA 210 states:

    In order to establish whether the preconditions for an audit are present, the auditor shall:

    (a) Determine whether the financial reporting framework to be applied in
    the preparation of the financial statements is acceptable; and

    (b) Obtain the agreement of management that it acknowledges and
    understands its responsibility:

    (i) For the preparation of the financial statements in accordance
    with the applicable financial reporting framework, including
    where relevant their fair presentation; (Ref: Para. A15)
    (ii) For such internal control as management determines is necessary
    to enable the preparation of financial statements that are free
    from material misstatement, whether due to fraud or error; and
    (iii) To provide the auditor with:
    a. Access to all information of which management is aware
    that is relevant to the preparation of the financial statements
    such as records, documentation and other matters;
    b. Additional information that the auditor may request from
    management for the purpose of the audit; and
    c. Unrestricted access to persons within the entity from whom
    the auditor determines it necessary to obtain audit evidence.

    Generally, this will be covered in the engagement letter.

    February 26, 2017 at 10:44 am #374303
    mysoul
    Member
    • Topics: 28
    • Replies: 30
    • ☆☆

    thanks very sir for the clarification

  • Author
    Posts
Viewing 3 posts - 1 through 3 (of 3 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • EricObi on IAS 37 – Best estimate – ACCA Financial Reporting (FR)
  • Ken Garrett on The nature and structure of organisations – ACCA Paper BT
  • John Moffat on MA Chapter 4 Questions Cost Classification and Behaviour
  • maryrena77 on The nature and structure of organisations – ACCA Paper BT
  • vi234 on MA Chapter 4 Questions Cost Classification and Behaviour

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in