Single Audit Engagement Letter Template for Philippines

1. Group Audit Considerations: Additional section when the client is part of a group structure requiring consideration of component auditors or group reporting

2. Regulatory Reporting Requirements: Special considerations for entities subject to specific regulatory reporting requirements (e.g., BSP-regulated entities)

3. Use of Experts: Section discussing the potential use of external experts or specialists in specific areas of the audit

4. Data Privacy Considerations: Special section addressing data privacy requirements and compliance with relevant privacy laws

5. Remote Audit Procedures: Section outlining procedures for remote auditing when applicable

1. Schedule A - Audit Timeline: Detailed timeline of the audit process, including key milestones and deadlines

2. Schedule B - Fee Schedule: Detailed breakdown of fees, including hourly rates if applicable, and payment schedule

3. Schedule C - Required Documentation: List of documents and information required from the client for the audit

4. Appendix 1 - Engagement Team: List of key engagement team members and their roles

5. Appendix 2 - Independence Declaration: Standard independence declarations required under Philippine regulations