3.1 - Audit Engagement Letters Flashcards
1
Q
What does ISA (UK) 2010, Agreeing the Terms of Audit Engagements require?
A
That the auditor and the client agree on the terms of the engagement - agreed terms must be in writing and usual form would be a letter of engagement
2
Q
When should auditors send an engagement letter to all new clients?
A
Soon after their appointment and, in any event, before the commencement of the first audit assignment
