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Review Engagement Letter
"I need a Review Engagement Letter for a medium-sized manufacturing company in Auckland, New Zealand, to be effective from March 2025, including standard review procedures and quarterly progress reporting requirements."
1. Addressee Details: Client name, position, company name, and address
2. Purpose of Engagement: Clear statement that this is a review engagement and its objectives
3. Scope of Review: Description of the nature and limitations of a review engagement, including the periods covered
4. Responsibilities of Management: Outline of client's responsibilities regarding financial statements, internal controls, and providing information
5. Responsibilities of Reviewer: Description of the accounting firm's responsibilities and the nature of procedures to be performed
6. Form of Report: Description of the expected form and content of the review report
7. Timing: Expected timeframes for the review and report delivery
8. Fees and Billing: Fee structure, billing arrangements, and payment terms
9. Professional Standards and Independence: Statement about compliance with relevant professional standards and independence requirements
10. Confirmation and Acceptance: Request for client acknowledgment and acceptance of terms
1. Use of External Experts: Include when the engagement requires the use of external specialists or experts
2. Group Entity Considerations: Include when the client is part of a group structure requiring additional considerations
3. Specific Regulatory Requirements: Include when the client is subject to specific regulatory reporting requirements
4. Electronic Data Management: Include when specific arrangements for electronic data handling need to be addressed
5. Overseas Reporting Requirements: Include when the client has international reporting obligations
6. Conflict Resolution Process: Include when specific dispute resolution procedures are required
7. Client-Specific Terms: Include when there are unique circumstances or requirements specific to the client
1. Schedule 1: Detailed Scope of Services: Detailed description of all services included in the review engagement
2. Schedule 2: Fee Schedule: Detailed breakdown of fees, hourly rates, and estimated hours
3. Schedule 3: Timing and Deliverables: Detailed timeline of the engagement, including key milestones and deadlines
4. Appendix A: Required Information List: Detailed list of documents and information required from the client
5. Appendix B: Review Procedures Overview: Summary of key review procedures to be performed
6. Appendix C: Team Structure: Details of key team members and their roles in the engagement
Authors
Professional Services
Financial Services
Manufacturing
Retail
Technology
Healthcare
Construction
Real Estate
Non-Profit Organizations
Education
Hospitality
Agriculture
Mining
Energy
Transportation and Logistics
Finance
Accounting
Corporate Governance
Risk Management
Compliance
Treasury
Internal Audit
Legal
Executive Management
Board of Directors
Chief Financial Officer
Financial Controller
Finance Director
Accounting Manager
Company Secretary
Chief Executive Officer
Managing Director
Board Director
Audit Committee Chair
Treasury Manager
Financial Reporting Manager
Partner (Accounting Firm)
Director (Accounting Firm)
Senior Manager (Accounting Firm)
Risk Management Officer
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