- This topic has 1 reply, 2 voices, and was last updated 4 years ago by
.
- Posts
ma’am does a tender document include the details of responsibilities of management and auditor? and identifies regulatory framework?
or that is ONLY included in engagement letter?
The contents of an engagement letter are prescribed by ISA 210. There are no ISAs governing the contents of a tender – the company will specify in the “invitation to tender” (ITT) according to best practice, custom, etc. Since it is only going to be a large company that puts its audit “out to tender”, it seems unlikely that management would need to be advised of the respective responsibilities of management/auditor. It might be appropriate, however, if there is anything in the ITT that suggests that management has any misconceptions in this area.
In a similar vein – unless there could be any doubt about which legislation, financial reporting or auditing standards apply, these might be mentioned only in passing.
- You must be logged in to reply to this topic.