Week 2 - When to Send an Engagement Letter Flashcards
(5 cards)
1
Q
What is the first example of when to send an engagement letter?
A
To all new clients before any professional work has started
2
Q
What is the second example of when to send an engagement letter?
A
To all existing clients who have not previously had such a letter
3
Q
What is the third example of when to send an engagement letter?
A
If there has been a change in circumstances or a change in the audit firm
4
Q
What should firms do annually?
A
Review the engagement letter to determine if it is still appropriate
5
Q
For groups of companies…
A
A letter is required for each company to be audited
