- 10 Marks
AAA – May 2017 – L3 – Q3b – Assurance services | Audit-related services
Discuss the characteristics of auditing International Non-Governmental Organizations (INGOs) and the steps required for a small audit firm to enter this market.
Question
The number of international non-governmental organizations (charitable organizations) is increasing in Ghana, and your firm Zumah and Co. Chartered Accountants (a small firm) is contemplating entering that segment of the audit market. Your managing partner has asked you as an audit senior to conduct research on the audit of such entities to enable the firm to start bidding for jobs from those entities.
Required:
Write a memo to the engagement partner detailing the characteristics of such audit clients, what the firm needs to do, and the audit organization that your firm may need to join to enhance your chances of securing engagements to audit such entities.
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