In reference to the audit quality and usefulness of external audit, highlight recent cases of Audit failure in the UK and the resulting developments in Audit Practice and Regulation, and discuss the safeguards that would improve Honest’s confidence in the quality and usefulness of the External Audit.
Description PART A – ASSESSING AND ACCEPTING AN AUDIT ENGAGEMENT You are an Audit Senior at the KGMP, and part of the engagement team to audit a new client, Honest Constructions Ltd (Honest) for the year ending 30 April 2021. The engagement Partner had a pre-audit meeting with the Finance Director of Honest to obtain […]