The auditor is responsible for planning, collecting audit evidence and issuing the audit reports. For financial statement audits, the auditor is usually someone with a qualification in financial accounting and who is approved by a professional body or laws to practice auditing.
The engagement partner is the partner or another person in the audit firm who is responsible for audit engagement and its performance, and for auditor’s report that is issued on behalf of the firm, and who were required, has the appropriate authority from a professional, legal or regulatory body.
The precondition to audit are conditions in which auditors must satisfy themselves that they are complied with before accepting the audit engagement.
There ate two preconditions for an audit:
First, the audited client must use the acceptable financial reporting framework in the preparation of its financial statements. An acceptable financial reporting framework involves the use of acceptable accounting standards such as IFRS, IPSAS, and GAAP depending on the nature of the audited entity and the laws and regulations in which the entity operates.