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clarity regarding preliminary engagement activities

Auditing

madam what is the difference between preliminary engagement activities and and preconditions for audit Video Details P5 Auditing and Code of Ethics (New) Audit Strategy, Audit Planning and Audit Programme (New) 4. Key Requirements of the Standard - I

aravind lalji

CA Inter

★ 0

09-May-24 07:28

Answers (7)

Preconditions refer to the terms and conditions that are critical for performing an audit in accordance with SAs.

Yogesh Konduri NS

Faculty

09-May-24 09:06

In laymans terms preconditions to the audit are things that you do to decide wether to take the audit or not and preliminary engagement activities are those you do after deciding to take the audit but before sending the audit engagement letter.

AK SPEC VIDS

CA Inter

★ 6K+

09-May-24 11:47

Preconditions- these are the terms which auditor consider before accepting the engagement. If they are not present, then auditor doesn’t accept the engagement. Preliminary activities are after acceptance. In the early stage of planning the audit, these are considered.