The use of engagement letters, Auditing

The Use of Engagement Letters

There is a contractual relationship among an accountant and his client. The accountant must therefore make sure that at the time he decided to execute certain work for the client, the scope of his responsibilities is made apparent preferably in writing, in that the terms of his agreement with his client are appropriately defined. Where probable a letter of engagement must be prepared setting out in detail the real services to be performed, and the terms of engagement must be accepted by the client and hence to reduce the risk of disputes concerning the duties supposed.

Posted Date: 12/3/2012 5:03:03 AM | Location : United States







Related Discussions:- The use of engagement letters, Assignment Help, Ask Question on The use of engagement letters, Get Answer, Expert's Help, The use of engagement letters Discussions

Write discussion on The use of engagement letters
Your posts are moderated
Related Questions
Going Concern Considerations - Audit Process IAS 1 Presentation of Financial Statements knows the going related assumption as one of the fundamental assumptions that underlie

Presentation and Disclosure - Audit Process Specific presentation involves presentation in accordance along with the suitable IFRS/IAS or International Accounting Standards.

Explain appropriate audit procedures you would apply in verification of cheque payments.

Q. What is Withholding Allowance? Withholding Allowance -Every taxpayer is allowed to claim a withholding allowance, which exempts a certain amount of wages from being subject

Write a paper (may be real or fictional) involving Accounting and business moral dilemmas. The paper should be 13 pages (double spaced) in accordance with APA guidelines. more des

(i) Overview of the audit process (a) Identify the key steps in this framework/ concept. (b) Briefly explain each of the key steps, in your own words. (ii) Framework of cr

Disclosure Requirements - Investment In common terms, the following items have to be disclosed in the concern to all investments: (a) The accounting policies about:-

General phases of control evaluation are: Phase 1: Understand and document • Understand the client's internal control • Document the understanding of internal control o

Statistical techniques Factors to be taken into consideration before adopting statistical techniques: a) The number of clients to whom it is appropriate because set up costs a