Problem
The Company's Audit Committee is discussing with you the possibility of nominating you as the auditor. Given the 4 years of Coca-Cola Amatil financial statements (2018-2021) and any information that can obtain on the public domain, please answer the following questions and with proper references.
A. What is the first step you will take in order to agree to being nominated by the audit committee?
B. What information will you seek and evaluate?
C. What is the second step that you will take in order to assess the appropriateness of the engagement.
D. What Auditing Standards and Pronouncements apply in the appointment and engagement of an audit client and how do they apply to this company.
E. Identify all the relevant information and evidence you have used is arriving at the engagement decision.
F. Discuss what issues your firm needs to consider before this audit engagement can be accepted.
G. Show any calculations you have conducted to support your decision.