i need solutions to these questions in 1hr. The Case of VITALOGISTICS Questions: Client Acceptance 1. Did KPVI s client-acceptance process follow the applicable standards and regulations? Evalu

i need solutions to these questions in 1hr. The Case of VITALOGISTICS

Questions:

Client Acceptance

1. Did KPVI’s client-acceptance process follow the applicable standards and regulations?

Evaluate the engagement letter in light of the decision in the 1136 Tenants’ case (1136

Tenants’ Corp. v. Max Rothenberg & Co., 36 A.D.2d 804, N.Y. App. Div. 1971).

2. Identify and discuss the pressures faced by Andy Card, the audit partner. How might

those pressures affect the decision to accept the client and the performance of the audit?

3. Ace Fritz, an audit manager in the office, was left off the audit team because he owned

5,000 shares of VITALOGISTICS stock. Is KPVI required to disqualify Ace? How

does the analysis change if you assume Ace was (a) a partner? (b) an associate?

Planning Phase

4. At the team planning meeting in February 20X4, the audit team set overall audit risk

at moderate and concluded that detailed testing of all significant balances was still

necessary. Identify and evaluate the factors relevant to these decisions. Explain why

you agree or disagree with the decisions made.

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