A public accountant (PA)in a large firm has been asked to take over the audit of a client in the pharmaceutical industry from another PA who quit abruptly.The PA is unfamiliar with the pharmaceutical industry.The PA should trust that the work was properly planned by the previous PA and should follow that plan carefully.

Question

Quizplus · Accepted Answer

While the PA should review the work that was done by the previous PA, they should also do their own research and become familiar with the pharmaceutical industry to ensure that the audit is thorough and accurate. Blindly following the previous PA's plan could lead to overlooking important information or issues.

A Public Accountant (PA)in a Large Firm Has Been Asked