Presentation on theme: "22 min Cable Co, Inc client acceptance part two. putnam rhodes & schaeffer."— Presentation transcript:
22 min Cable Co, Inc client acceptance part two
putnam rhodes & schaeffer
client acceptance Independence - memo to partners and staff all partners managers in the engagement office staff assigned to CableCo must consider spouses & dependents
communication with predecessor auditor required by GAAS integrity of management Fraud, illegal acts Internal control related matters disagreements about accounting principles or auditing procedures reason for the change in auditors
communication with predecessor auditor recently expanded specifies the work papers the predecessor is supposed to give the successor access to
the proposal looks like three people have written it what can you learn from this about group papers at school ?
they won’t send her over here to babysit a bunch of young auditors I’ll be teaching a whole bunch of new auditors..
I have a small staff and we have lots of things to do …… and the audit is just one of them
RISK RISK RISK Steve said the auditors will need copies of the new convertible bonds all the debt agreements what do you need from us? special reports for creditors separate financials on a system basis any other new users
RISK RISK RISK are there any acquisitions in the works how do you pay for the acquisitions? …… the rebuilding cash unsecured line of credit
who might sue us ? here comes the judge
Arnie Lucas what is Arnie’s pride and joy ?
unsecured line of credit
flattery Steve to Arnie How do you can keep up with everything around here.. you don’t have a very large staff
find common experiences debt covenant waivers contract warranties