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Issue in contemporary auditing - Essay Example
Author : igaylord
Finance & Accounting
Pages 12 (3012 words)
Issue in Contemporary Auditing Letter of Engagement Land Securities Group Plc., Dear Sir, Thank you for assigning us as auditor for Land Securities Group Plc. In accordance with the recommendations of Financial Reporting Council (FRC), we would prefer to officially start out our understanding about the audit services you want us to conduct…
Governance Reporting Reporting is a vital way of sharing financial information. Therefore, it will be our responsibility to report to you on whether the financial accounts have been arranged according to the accounting strategies as stated by you. Furthermore, we would report according to auditing process undertaken by us, on whether anything has emerged to our consideration for specifying that the revenue figure described in financial reports has not been appropriately extracted from book of records, or book of records do not record and clarify the transactions, with respect to the understanding of activity. Scope of Work Our auditing process will include those activities we consider essential to allow us to report on the aspects of financial reporting and will comprise evaluating information and descriptions provided to us for conducting such investigations about the managers as we believe essential. It is to clarify you that we are not liable for the maintenance of bookkeeping records of the business, however we shall be pleased to advise on these aspects if required. The financial statements will have a declaration for your approval for having every relevant accounting record. ...