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Contemporary auditing and risk management - Essay Example
Finance & Accounting
Pages 12 (3012 words)
Contemporary Auditing Name: Institutions: Course: Date: ENGAGEMENT LETTER Loughran and Shrives Chartered Accountants And Statutory Audit Firm April 9, 2013 Land Securities Group Plc London, WC2N 5EH, United Kingdom Dear Sirs. The essence of this letter is to provide the foundation on which we practice as auditors of the company and the corresponding areas of obligations of ourselves and of the company…
In the event that our application is not complied with, we ought to cease to act as auditor to your company or to support the company in any revenue or tax matter. We must convey a copy of our resignation to an applicable office of the Revenue Commissioners within 14 days. We ought to report material pertinent offences to the administrator of the company in writing, in a period 6 months. Our costs or fees are calculated on the basis of the period spent on your matters by our staff and partners, and on the levels of expertize and obligation involved and expenses incurred and VAT. We shall not reveal, to potential competitors or third party, confidential information attained in during our professional duty without your permission unless a legal right to disclose. Under the law of our institution, we obliged to avail all documents available for scrutiny in the course of a general practice review. Where the engagement is dismissed the constitutional provisions governing dismissal or termination of auditors in accordance to the Companies Act, shall apply. ...