Document background
The Assurance Engagement Letter is a crucial document used in the Indian professional services context to formalize the relationship between an assurance service provider and their client. It is required whenever an organization engages an audit firm or chartered accountant for assurance services, whether for statutory audits, special purpose audits, or other assurance engagements. The letter must comply with Indian regulatory requirements, particularly the Companies Act 2013, ICAI guidelines, and relevant Standards on Auditing (SA). It typically includes detailed information about the scope of services, methodology, timelines, deliverables, professional fees, and the respective responsibilities of both parties. This document is essential for establishing clear expectations, avoiding misunderstandings, and ensuring compliance with professional standards and legal requirements.
