How to write audit engagement letter
Not what you're looking for?
The CPA firm of Test & Check has been appointed auditors for the XYZ Corporation by the company's audit committee. The engagement is limited to making an audit of the company's financial statements. The audit fee is to be at the firm's regular per diem rates plus travel costs. To confirm the arrangements, Test & Check sends an engagement letter (see attachments).
List the deficiencies in the engagement letter. For each deficiency, indicate the proper wording.
Purchase this Solution
Solution Summary
This solution identifies basic flaw in writing audit engagement letter. It identifies line by line errors in the letter and provides proper wordings and suggestions.
Solution Preview
DIFICIENCIES
1. Responsibility of the XYZ Corporation is omitted.
Proper wording:
Disclosure of financial statements and other related documents shall be ...
Purchase this Solution
Free BrainMass Quizzes
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.