The audit junior has asked you whether internal control questionnaires (ICQs) should be completed as well as internal control evaluation questionnaires (ICEQs).Which of the following statements is correct in relation to ICQs and ICEQs?
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2 .NAB & Co have decided that they would like to accept nomination as Mickey's auditors and Mickey's existing auditors have agreed to resign rather than be removed from office. The audit manager in charge of the tender has set out a list of procedures that the firm must undertake before Mickey can be approved as an audit client.(1) Ensure that the existing auditor's resignation has been properly conducted(2) Communicate with Mickey's existing auditors(3) Submit an engagement letter to Mickey's management(4) Perform client screening procedures, including an assessment of Mickey's risk profileWhich of the following summarises the correct order in which the above procedures should be undertaken?
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4 .Which of the following correctly summarises the order in which the steps required by the firm's policy for first year audits would take place?
A 1, 2, 3, 4 B 3, 2, 1, 4 C 1, 2, 4, 3 D 2, 1, 4, 3
5 .Once NAB & Co has accepted appointment as Mickey's auditor they must draw up an engagement letter.Which of the following must be included in the audit engagement letter?
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A 1 only B 3 only C 1 and 2 D 3 and 4
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A 1 only B 2 only C 3 and 4 D 1 and 4
