-Helps in minimizing the liability to any third parties that may be involved.
-Helps in ensuring commitment of the client to a given obligation in his/her audit.
-Helps in explaining the forms of engagement reports that may be issued.
-Also helps in educating the client and the audit on his/her specific duties such as the basis of charging the fees.
-Helps in documentation and confirmation of the auditor's acceptance for a given engagement.
-Helps in ensuring no misunderstandings between the auditor and the clients involved in the engagement.
jim items answered the question on March 15, 2019 at 06:14
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