An agreement is a mutual assent between two or more parties in which one side offers and the other accepts something of value. It can take the form of a promise, a contract, or an exchange of goods or services.
The term agreement can also refer to a written document that outlines your responsibilities as an auditor and outlines the client’s expectations. It’s commonly called an audit engagement letter and it is a binding contractual agreement. You can use Jotform Sign’s free Audit Engagement Letter Template to create an engaging and professional agreement that sets out the scope of your work, your responsibilities as an auditor, your reporting requirements, your fee structure, and confidentiality provisions.
It is recommended that a written audit engagement letter be sent to all new clients as soon as possible after the acceptance of appointment, and preferably before the commencement of the first audit engagement. This document will clearly state the extent of the auditor’s responsibilities to minimize any misunderstanding between both parties. However, an engagement letter can also be sent to existing clients if there has been a change in circumstances affecting the need for the audit, a misunderstanding as to the nature of the service originally requested, or any other reasonable justification. agreement between auditor and client