tender document and engagement letter

This topic has 1 reply, 2 voices, and was last updated 7 years ago by Kim Smith.

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May 31, 2019 at 7:47 pm #518109
jihun lee
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Hi Kim,

May i understand if i got this correct.

Audit firm will be the one sending the tender document (purpose is to explain about the firm’s service ) to the new client, and then if that new client accepts it, then audit firm will have to prepare engagement letter

is it correct ?
June 1, 2019 at 8:09 am #518161
Kim Smith
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Yes – a tender is just a proposal/proposition “offer” – if the client accepts it there is a contract which is legally formalised in the engagement letter,
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