tiktok³ÉÈË°æ

The Audit Acceptance Letter is a crucial document required under Malaysian law and professional standards that formalizes the audit engagement between a registered audit firm and its client. This document is mandatory before commencing any statutory audit services and must comply with the Companies Act 2016, MIA By-Laws, and International Standards on Auditing. The letter details the scope of work, responsibilities, fees, and timelines, while ensuring compliance with independence requirements and professional standards. It serves as the foundation of the professional relationship and helps prevent misunderstandings about the nature, limitations, and extent of the audit services to be provided.

1. Letter Header and Date: Formal business letter header including audit firm's letterhead, date, and reference number

2. Client Address and Salutation: Full registered address of the client company and appropriate salutation to the board of directors/management

3. Engagement Reference: Clear reference to the appointment as auditors and the financial year(s) covered

4. Scope of Audit: Detailed description of the audit services to be provided, including reference to applicable accounting and auditing standards

5. Auditor's Responsibilities: Clear outline of the auditor's responsibilities, including the objective of the audit and its inherent limitations

6. Management's Responsibilities: Description of management's responsibilities regarding financial statements, internal controls, and providing access to information

7. Fees and Payment Terms: Details of audit fees, payment schedule, and any additional cost considerations

8. Timeline: Expected timeline for the audit engagement and key deliverables

9. Confirmation Request: Request for client's acknowledgment and acceptance of terms

10. Signature Block: Formal closing, firm's signature, and space for client's countersignature