In this lesson, the initial stages of the audit process are discussed, which include understanding the responsibilities of each party involved - management, auditors, and those charged with governance. The essential components of an engagement letter and its importance are highlighted, making it a key aspect to remember. Finally, the lesson explores various reasons why an audit or other engagements may not be accepted despite potential financial incentives to do so.
This video and the rest on this topic are available with any paid plan.
See Pricing