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Acceptability of Murphy Tymshare as a prospective client 1. Introduction Despite that Murphy Tymshare (MTS) already has business relationship with the firm in the tax field, it is a new client in the auditing area. Evaluation on MTS should be done before making decision of whether to accept the client or not. Otherwise, the acceptance of a poor client may result in potential problems such as lawsuits, loss of professional reputation and financial loss to the auditing firm. Basing on the scenario provided in the case, both positive and negative factors are identified and analyzed against the seven categories of factors1 suggested by Knechel (2001). These seven factors actually cover the steps of obtaining background information of the client and evaluating the associated risks. Therefore, they are particular useful in analyzing the MTS case2. After that, the necessity of the need of more information will be discussed, then it is followed by the...

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