The letter should describe the assistance of client personnel. bank reconciliations) and retrieve documents from files. Description of any assistance to be provided by the client: Typically, the client’s personnel will prepare some schedules (e.g.Deadlines: This section lays out the estimated date of completion and release of the financial statements, as well as the general guidelines for the timing of the audit work.
Constraints on the accounting firm: For example, timing of access to client facilities and accounting records may delay the engagement.
#WAS IST EIN TENDER MANAGER PROFESSIONAL#
Specification of the responsibilities of the auditor of the company: This section refers to the specific professional standards and responsibilities of the auditor. evaluation of internal control, preparation of regulatory reports) are also identified in this section. Other services that are planned for the audit (e.g. Provided in this section is a brief description of the nature of the particular service. Identification of the service to be rendered: One type of service is a financial statement audit. Addressee: Typically addressed to the senior management (e.g. Standard format for letters of engagement The example given below refers to the engagement of an accountancy firm. Most engagement letters follow a standard format. This letter states the terms and conditions of the engagement, principally addressing the scope of the engagement and the terms of compensation for the firm. This article uses the word engagement in a legal sense.Īn engagement letter defines the legal relationship (or engagement) between a professional firm (e.g., law, investment banking, consulting, advisory or accountancy firm) and its client(s). JSTOR ( December 2009) ( Learn how and when to remove this template message). 
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