ACCA AAA INT Syllabus C. Practice Management - Tendering - Notes 4 / 4
This is when an audit firm is approached by a prospective client to bid for their audit
Audit Firm Considerations:
How did the client get to know about them?
Why has the firm been approached particularly?
What is the scope of the audit?
How risky is the audit to the firm?
Does the firm have the necessary resources
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Tender documents contents:
Fee and how it has been calculated
An assessment of the requirements of the prospective client
Our approach to the requirements
Deadlines and information needed
Outline of the firm and our staff
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