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Please answer both Section C. Thank you SECTION C- SHORT...

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Accounting

Please answer both Section C. Thank you
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SECTION C- SHORT ANSWER QUESTIONS QUESTION C1 Your audit firm has just won a new audit you have engagement partner to gain an understanding about the new cli process. audit firm has just won a new audit cient and you have been asked by the audit ent as part of the planning (a) Identify FOUR sources of information relevant to gaining an understanding of new client and describe how this information will be used by the auditor (b) Explain FOUR factors that the external auditor should consider when assessingt (c) List FOUR matters which should be included within an audit engagement letter. (d) Identify and explain FOUR factors which would indicate that an engagement letter for an competence and objectivity of the expert existing audit client should be revised. 4x4-16 marks] QUESTION C2 List FOUR (4) assertions relevant to the audit of tangible non-current assets and state one audit procedure which provides appropriate evidence for EACH assertion. 14 marks

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