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Engagement Letter

The Board of Directors of Vilan Company engaged CJ & B Co., CPA's to conduct an audit of Vilan Company's financial statements for the year ended December 31, 2021. The objective of the audit is to obtain reasonable assurance that the financial statements are free of material misstatements. Maintaining accurate accounting records is the responsibility of Vilan Company. CJ & B Co. has the right to request any details needed to perform their audit. Their fees are based on standard hourly rates that vary depending on the level of staff assigned. The letter requests that Vilan Company sign to acknowledge and agree to the terms of the audit engagement.

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Crystal Jenn Balaba
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78 views1 page

Engagement Letter

The Board of Directors of Vilan Company engaged CJ & B Co., CPA's to conduct an audit of Vilan Company's financial statements for the year ended December 31, 2021. The objective of the audit is to obtain reasonable assurance that the financial statements are free of material misstatements. Maintaining accurate accounting records is the responsibility of Vilan Company. CJ & B Co. has the right to request any details needed to perform their audit. Their fees are based on standard hourly rates that vary depending on the level of staff assigned. The letter requests that Vilan Company sign to acknowledge and agree to the terms of the audit engagement.

Uploaded by

Crystal Jenn Balaba
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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September 09, 2022

The Board of Directors


VILAN COMPANY
Mabini Street, Tagum City, Davao Del Norte

Dear Ma’am/Sir,

You have requested us to conduct an audit of the Vilan Company's financial statements, which include the
statement of financial position as of December 1, 2021 and the other statement of comprehensive income
and statement of cash flows for the year ended. We are pleased to confirm our acceptance and our
understanding of this engagement by means of this letter.

The objective of our audit is to obtain reasonable assurance about whether the financial statements is
free form material misstatement, whether due to fraud or error, and to issue and audit’s report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with Philippine Standards on Auditing will always detect a material
misstatement when it exists. Misstatements, whether they are made individually or collectively, are
deemed material whether they result from fraud or error, they could be reasonably anticipated to have
an impact on users' financial decisions made in reliance on these financial statements. Because of the test
nature and other inherent limitations of an audit, together with the inherent limitations of any accounting
and internal control system, there is an unavoidable risk that even some material misstatements may
remain undiscovered

We will point out that maintaining accurate accounting records that accurately reflect the company's
financial position at any given time is your responsibility. You must also take reasonable measures to
protect the company's assets and implement an effective system of internal controls to prevent and
identify fraud and other irregularities.

You are also accountable for making all of the company's accounting records, together with any other
pertinent records and related information, available to us as and when needed. We have the right to ask
the company's officials for any further details and justifications we deem essential to carry out our role as
auditor.

All of our fees are based on the normal hourly rates we charge at the time the service is rendered.
Depending on the level of responsibility involved and the level of expertise of the employees assigned to
your engagement, our standard hourly rates vary.

We would be glad to talk with you about this letter at any time. We have enclosed a copy of this letter for
your convenience in confirming this engagement. In order to acknowledge and agree with the
arrangements for our audit of the financial accounts, including our respective obligations, kindly sign and
return the form to us.

Very truly yours,

CJ & B Co., CPA’s

This letter correctly reflects our fair knowledge of the services that we expect you to do, and we hereby
certify that we have read, fully understand, and agree to the terms and conditions set forth therein.

For and on behalf of VILAN COMPANY


(Signed)

Date:

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