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Hello sir,
from what I have read till now, the hierarchy in an audit engagement is:
Audit partner
Audit manager
Audit supervisor
Junior auditors
Is that correct, please?
When we say audit partner we mean that the audit firm is a partnership and the partner is one of the owners? And finally, what is the difference between the audit manager and the audit supervisor? What they are responsible for? Thank you very much.Yes that is hierarchy but apart from partner not all levels need make up an audit team, it depends on specific client.
Yes partner will be salaried and/or have profit share.
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