A nonprofit organization solicits bids for the annual audit from local audit firms
At the end of each unit, DB participation is assessed based on level of engagement and the quality of the contribution to the discussion. DBs allow learners to learn through sharing ideas and experiences as they relate to course content. Because it is not possible to engage in two-way dialogue after a conversation has ended, no posts to the DB are accepted after the end of the unit. Learners must demonstrate an appropriate depth of understanding of course content to receive credit for having submitted substantive posts. Typically, this is achieved with 3–4 strong paragraphs for Main Posts and 2–3 strong paragraphs for Response Posts.
A municipal village or a nonprofit organization solicits bids for the annual audit from local audit firms, and the firm with the lowest bid is selected.
Answer the following questions regarding the given scenario:
Is this the most prudent choice of auditor for the organization?
What should the managers take into consideration when attempting to identify a suitable audit firm?
Discuss whether or not the lowest bid is always the best option.