ISA 210 (4)

Question 1

Audit engagement letter may reference (inform)

Answer 1

Inform auditor of facts that may affect financial statements, of which management may become aware from date of auditor’s report to date of issue of FS

Question 2

Audit engagement letter may reference (Request)

Answer 2

Request for management to acknowledge receipt of letter and agree to terms outlined in it

Question 3

Audit engagement letter may reference (Expert)

Answer 3

Involvement of other auditors and experts

Question 4

Audit engagement letter may reference (Auditor)

Answer 4

Involvement of internal auditors and other staff

Question 5

Audit engagement letter may reference (Arrangement)

Answer 5

Arrangements to be made with predecessor auditor

Question 6

Audit engagement letter may reference (Liability)

Answer 6

Any restriction of auditor’s liability

Question 7

Audit engagement letter may reference (Entity)

Answer 7

Reference to any further agreements between auditor and entity

Question 8

Audit engagement letter may reference (Obligation)

Answer 8

Any obligations to provide audit working papers to other parties

Question 9

What happens on recurring audits? (circumstances)

Answer 9

Auditor shall assess whether curcumstances require terms of audit engagement to revised

Question 10

What happens on recurring audits? (entity)

Answer 10

Whether there is a nheed to remind the entity of the existing terms of audit engagement