How to Kick Off an Audit: Initial Communication & Engagement Letter | Audit Series Part 1

0:00 - 0:09 - Audit Series Intro 0:10 - 0:40 - Initial Communication & Engagement Letter Introduction 0:41 - 1:49 - Initial Communication with the Client 1:50 - 2:47 - Independence Check 2:48 - 3:01 - The Engagement Letter 3:02 - 3:47 - Engagement Letter Walk Through 3:48 - 7:56 - Engagement letter opening paragraph 7:57 - 11:06 - Objective & Scope of the Audit 11:07 - 14:08 - Management's Responsibilities 14:09 - 16:45 - Auditor's Responsibilities 16:46 - 17:59 - Audit Limitations 18:00 - 20:07 - Deliverables 20:08 - 23:19 - Fees & Billing Terms 23:20 - 24:09 - Agreement & Signatures 24:10 - 24:20 - Final Summary 24:21 - 24:38 - Outro Visit my website to download template used in this video https://www.bryancarretocpa.com/ Message me Facebook https://www.facebook.com/bryan.carreto Learn Accounting on TikTok @bryancarretocpa Book a free coaching session with me. https://calendly.com/bryancarreto5/25-minute-coaching-call Follow me on Instagram: @bryan_carreto ​ Bryan Carreto, CPA