Articles

A statutory audit is the creation of the financial statements, the validation of the accounting numbers produced by the accountant and the inclusion of disclosures / notes in accordance with the IFRSs (the International Financial Reporting Standards) together with the auditors opinion where the regulated audit and assurance firm validates whether or not the financial statements show a true and fair view by expressing an opinion also called the "audit opinion".
 

What is the auditor's engagement letter? 

The auditor's engagement letter is effectively the service agreement between your business (company or yourself if you are a sole trader) and the audit and assurance firm. In other words, it’s a contract which stipulates each party’s obligations and responsibilities.