Audit Engagement Letter Template - Examples
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14APPENDIX I
ISA 210
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EXAMPLE OF AN AUDIT ENGAGEMENT LETTER
The following is an example of an audit engagement letter for an audit of general
purpose financial statements prepared in accordance with International Financial
Reporting Standards (IFRS). This letter is not authoritative but is intended only to
be a guide that may be used in conjunction with the considerations outlined in
this ISA. It will need to be varied according to individual requirements and
circumstances. It is drafted to refer to the audit of financial statements for a
single reporting period and would require adaptation if intended or expected to
apply to recurring audits. It may be appropriate to seek legal advice that any
proposed letter is suitable.
To the appropriate representative of management or those charged with
governance of ABC Company:
[THE OBJECTIVE AND SCOPE OF THE AUDIT]
You have requested that we audit the financial statements of ABC Company,
which comprise the balance sheet as at December 31, 2012, and the income
statement, statement of changes in equity and cash flow statement for the year
then ended, and a summary of significant accounting policies and other
explanatory information. We are pleased to confirm our acceptance and our
understanding of this audit engagement by means of this letter. Our audit will be
conducted with the objective of our expressing an opinion on the financial
statements.
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