Review services Procedures Suggested for reviews d Obtain knowledge of the accounting principles of the client's industry d Obtain knowledge of the client. d Make inquiries of management. 1. Inquire as the companys procedures for recording, classifving, and summarizing transactions and disclosing information in the statements 2. Inquire into actions taken at meetings of stockholders and board of directors 3. Inquire of persons having responsibility for financial and accounting matters. Arens, Loebbecke: Auditing, 8/E @2000 Prentice hall. IncArens, Loebbecke; Auditing, 8/E ©2000 Prentice Hall, Inc. ¶ Obtain knowledge of the accounting principles of the client’s industry. ¶ Obtain knowledge of the client. ¶ Make inquiries of management. 1. Inquire as the company’s procedures for recording, classifying, and summarizing transactions, and disclosing information in the statements. 2. Inquire into actions taken at meetings of stockholders and board of directors. 3. Inquire of persons having responsibility for financial and accounting matters. Review Services Procedures Suggested for Reviews