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Slater, CPA, is planning the audit engagement of Nicole Industries.? An understanding needs to be established regarding Slater’s and Nicole’s responsibilities.? For each of the items below, identify the responsible party.
Type one of the following answers in the blank space.
?
Management is responsible
Auditor is responsible
Both are responsible
Neither is responsible
3.Following generally accepted auditing standards._____
 4. Following generally accepted accounting principles. _____
5. Detection of immaterial errors. _____
6. Establishment of internal control. _____
7. Provision of representation letter. _____
8. Establishing the timing of the audit. _____
9. Compliance with laws and regulations. _____
10. Coordinating client assistance. _____
10. Coordinating client assistance. _____

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