Which statement is correct relating to a potential successor auditor's responsibility for communicating with the predecessor auditors in connection with a prospective new audit client?
A) The successor auditors have no responsibility to contact the predecessor auditors.
B) The successor auditors should obtain permission from the prospective client to contact the predecessor auditors.
C) The successor auditors should contact the predecessors regardless of whether the prospective client authorizes contact.
D) The successor auditors need not contact the predecessors if the successors are aware of all available relevant facts.

Question

Quizplus · Accepted Answer

The successor auditors should obtain permission from the prospective client to contact the predecessor auditors. This is to ensure that confidentiality agreements and legal restrictions are not breached. It is important for the successor auditors to communicate with the predecessor auditors to obtain relevant information about prior audits and any issues encountered. However, the successor auditors must respect the privacy and confidentiality of the previous client and obtain permission from the new client before contacting the predecessor auditors.

Which Statement Is Correct Relating to a Potential Successor Auditor's