22 min Cable Co, Inc client acceptance part two. putnam rhodes & schaeffer.

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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