Billy’s Beats Inc. Argumentative
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The auditor just provided the inquiries to management procedure for the economic lives of the customer lists, the engagement team asked management what the reasoning was for the change in the assumed economic life this year. This memo was included in the audit working papers, but did not include any documentation from the engagement team. The auditor should also apply the documentation procedure such as read the minutes of board of directors meeting and summarize all information that is pertinent to the financial statements in an audit file.
