Williams 400 Company, a publicly traded company,recently issued an RFP for quarterly reviews and the annual audit.The company is generally perceived to be a desirable client and isexpected to be extremely profitable for whichever firm lands theengagement. Shapiro, LLP, a public accounting firm, wishes topropose for the Williams 400 Co. engagement.
Required:
(a) What potential sources can Shapiro, LLP,utilize to gather information about the Williams 400 Company?
(b) After researching the company, what shouldShapiro, LLP, consider concerning the staffing needs of theaudit?
(c) If Shapiro, LLP, determines that Williams400 Company falls within a suitable level of risk, and expectedengagement profitability, and that the firm has sufficient staff toperform the engagement, what are the next steps in the clientproposal-acceptance process?
Williams 400 Company, a publicly traded company,recently issued an RFP for quarterly reviews and the annual audit.The company is generally perceived to be a desirable client and isexpected to be extremely profitable for whichever firm lands theengagement. Shapiro, LLP, a public accounting firm, wishes topropose for the Williams 400 Co. engagement.
Required:
(a) What potential sources can Shapiro, LLP,utilize to gather information about the Williams 400 Company?
(b) After researching the company, what shouldShapiro, LLP, consider concerning the staffing needs of theaudit?
(c) If Shapiro, LLP, determines that Williams400 Company falls within a suitable level of risk, and expectedengagement profitability, and that the firm has sufficient staff toperform the engagement, what are the next steps in the clientproposal-acceptance process?
