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Q1(d)
Competence and resources“We should clarify whether the bank manager expects any work to be performed and conclusion drawn on the cash flow and profit forecast”
Does it mean the other engagement involved for PFI? Or part of the audit / review engagement?
If required, this would be in addition to an audit or limited review of financial statements.
So will it require separate engagement letter to be sent out for the additional work on the cash flow and profit forecast?
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