Get Saiba Engagement Letter

Engagement letters for your accounting or CPA firm is a legal document agreement sent to your clients that describes the overall business relationship with your client, clearly defining: Services included and how they'll play out. Each other's responsibilities. The clearly-defined scope of your work.

Benefits of Audit Planning Identify priority areas to ensure you focus where it matters. Make audit workflows and processes more efficient. Help you to identify — and engage at an early stage — key process owners, and your “first line of defense” reduces costs by minimizing duplicate work.

In a tax preparation business, an engagement letter communicates, from the tax preparer's perspective, the work the preparer will do as well as what they won't do and the terms and conditions of performing that work.

Requirements for an engagement letter the three separate parties to the engagement practitioner, responsible party, and intended users; the appropriate underlying subject matter and subject matter information; the suitable criteria to be applied and the requirement that these be made available to users;

The engagement letter documents and confirms the auditor's acceptance of the appointment, the objective and scope of the audit, the extent of the auditor's responsibilities to the client and the form of any reports.

Having an effective audit engagement in place can help reduce the cost of compliance, increase the accuracy of financial statements, and provide a higher level of assurance to stakeholders.

Engagement letters set the terms of the agreement between two parties and include details such as the scope, fees, and responsibilities, among others. Some of the benefits of engagement letters are that they are legally binding documents, they reduce misunderstandings, and they set clear expectations.