Phase 1 – Accept
Both new and existing clients should be re-evaluated for every engagement.
Client’s reasons for audit
Independence threat analysis
Communicate with prior auditor
Background check/Google research
Auditable or not
Phase 2 – Pre-plan
USUALLY THESE TAKE PLACE BEFORE YOU ARRIVE AT THE CLIENT’S OFFICE
Staffing capabilities and meetings
Review of prior year files
Research business and industry if needed
Do I need to hire a specialist?
Obtain knowledge of industry and business environment
Run the criteria at the acceptance level again, b/c sth may happen in b/y, more detailed
info. Independency/skills has to do again