AUDIT AGREEMENT

Audit Agreement

An audit agreement from Northwind Studio outlining audit scope, fieldwork, and reporting for the period under review.

Overview

This agreement engages Northwind Studio to perform the audit described below for Acme Co. It covers planning, fieldwork and controls testing, and reporting, with clear expectations on management responsibilities and access to records.

Objectives

• Deliver an opinion on the financial statements taken as a whole.
• Identify and communicate material control observations.
• Keep the audit predictable with a clear PBC list and cadence.
• Support the leadership team and board through the readout.

Scope of Work

The audit runs across three coordinated phases. Each has a defined deliverable and a review touchpoint with management.

What is included

• Risk assessment and written audit plan
• Substantive testing of material account balances
• Confirmations with banks, customers, and vendors as required
• Issued audit opinion and management letter
• Executive readout with leadership and audit committee

Not included: tax preparation, financial statement preparation, remediation of identified control issues, IT general controls audits, and forensic investigation. These are billed under a separate engagement if requested.

Fees and Payment

Fees are a fixed sum per phase, invoiced monthly against progress. Out-of-pocket expenses are billed at cost.

Payment Schedule

Invoices are due within 30 days. Fieldwork is scheduled after the planning phase closes and the prepared-by-client list is complete.

Acceptance

To engage Northwind Studio for the audit, complete the fields below and sign. Planning begins on receipt of the signed agreement.

PLANNING START DATE

PRIMARY FINANCE CONTACT