Issued in accordance with Standard on Auditing (SA) 210
This Engagement Letter (“Letter”) is made and entered into as of ____________________, by and between AGARWAL VIPIN & ASSOCIATES (“Auditor”) and ______________________________________ (“the Firm” / “Assessee”).
This engagement letter confirms our understanding of the audit engagement for the financial year ending 31‑March‑20____.
- Scope of Engagement
We are pleased to accept your appointment to audit the financial statements of the Firm. Our audit will be conducted with the objective of expressing an opinion on whether the financial statements:
- Give a true and fair view of the state of affairs of the Firm as at 31st March 20____.
- Reflect the Firm’s profit or loss for the year ended on that date, in accordance with the applicable Accounting Standards.
Our audit will be conducted in accordance with the Standards on Auditing (SAs) issued by the Institute of Chartered Accountants of India (ICAI).
- Management’s Responsibilities
Management is responsible for the preparation and fair presentation of the financial statements in accordance with the applicable Accounting Standards. This includes:
- Maintaining adequate accounting records and internal controls.
- Providing us with all necessary information and explanations on a timely basis.
- Granting us unrestricted access to books of account, vouchers and other supporting documents.
- Our Responsibilities
We will plan and perform our audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. A reasonable assurance engagement involves the exercise of independent professional judgment and provides a high level of assurance, but is not a guarantee that an audit will always uncover all material misstatements.
Our audit procedures will include, on a sample basis, testing of the accounting records and other supporting evidence. We will assess the risks of material misstatement and design and perform audit procedures in response to those risks.
Our responsibility to commence the audit will arise only when all documents and information necessary for the proper conduct of the audit have been received by us.
- Communication of Findings
We will communicate the following to you in writing:
- Any material misstatements identified, along with our recommendations for adjustments to the financial statements.
- Significant deficiencies in internal control, if any, identified during the course of our audit.
- The basis for our audit opinion.
- Fees and Expenses
Our fees for the audit will be Rs. _______________________/-, plus applicable taxes, payable within 30 days of signing of the financial statements. Any additional work outside the agreed scope will be billed separately after prior discussion with you.
- Term and Termination
This engagement letter will become effective upon signature by both parties and will continue until completion of the audit and issuance of our report. This engagement may be terminated by either party upon written notice to the other party, or in case of a material breach of the terms of engagement.
- Confidentiality
We will maintain the confidentiality of all information obtained during the course of our audit engagement, except as required by law, regulation, or applicable professional standards (including peer review and quality control requirements of ICAI).
- Governing Law
This engagement will be governed by and construed in accordance with the laws of India.
- Dispute Resolution
Any dispute arising out of or in connection with this engagement will be subject to the exclusive jurisdiction of the courts in Kanpur.
Please sign and return a copy of this letter to indicate your acknowledgement of, and agreement with, the terms of this engagement.
| For AGARWAL VIPIN & ASSOCIATES | Assessee’s Acceptance |
| ____________________________ | ____________________________ |
| (PRADEEP KUMAR GUPTA), Partner | (Authorised Signatory) |
| M. No. 420907 | Date: ____________________ |
