Document background
An Audit Engagement Withdrawal Letter is a crucial document used when an audit firm needs to terminate its professional services before completing an audit engagement. This document, governed by Philippine regulations and professional standards, is typically employed when circumstances such as independence issues, scope limitations, or significant disagreements arise that prevent the continuation of the audit relationship. The letter must carefully balance professional obligations under the Philippine Standards on Auditing with client confidentiality requirements, while ensuring compliance with the Philippine Board of Accountancy regulations. It serves as both a legal record of the engagement termination and a professional courtesy document that facilitates an orderly transition to new auditors.
