Engagement Letter
The letter agreed with the client before an audit starts, setting out its scope, management's responsibilities and the auditor's responsibilities. Required by SA 210.
Related terms
- Emphasis of Matter
A paragraph in the auditor's report drawing attention to a matter already appropriately presented or disclosed, without modifying the opinion.
- Employee State Insurance (ESI)
A social security scheme providing medical and cash benefits to employees below a specified wage threshold, funded by employer and employee contributions.
- Engagement Quality Control Review (EQCR)
An objective evaluation of significant judgments and conclusions made in an engagement, performed by a reviewer not otherwise involved in the engagement, before the report is issued.
- Entity-Level Controls
Controls operating at the level of the organisation as a whole rather than within a specific process — the control environment, risk assessment process, and board/audit committee oversight.
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