1. Discuss the fundamental principles that all professional accountants and students are supposed to comply with, their threats and relevant safeguard required.
2. According to ISA 210 before accepting (or continuing with) an engagement, the auditor must establish whether the preconditions for an audit are present and that there is a common understanding between the auditor and the management and, where appropriate, those charged with governance.
i. Describe the precondition that must exist before accepting an audit engagement
ii. Delineate the post-acceptance procedures that must be carried out after accepting nomination.
3. You are an audit senior in a leading audit firm. You have recently been tasked by a senior manager of your firm to speak on ‘the principal content of an audit engagement' at the ongoing induction training for new recruit of your firm. Prepare a 15 minutes presentation on the subject matte