Lesson: Communication with Predecessor Auditors

In this lesson, the concept of predecessor auditors and successor auditors is explained in the context of an audit engagement. The importance of communicating with the predecessor auditors before accepting an engagement is emphasized, as it helps in gathering vital information to assess the reputability and accuracy of previous audited financial statements. Additionally, the successor auditor should inquire about any disputes with management and reasons for the change in auditors. Communication between the two auditors may continue during the engagement, enabling the current auditor to gather information that promotes consistency between the two years under audit.