The Audit Acceptance Letter is a crucial document in the South African audit process that formally initiates the audit engagement between a registered audit firm and its client. This document is required under the South African Auditing Profession Act and must comply with International Standard on Auditing (ISA) 210. The letter serves multiple purposes: it confirms the audit appointment, establishes the scope and terms of the engagement, outlines mutual responsibilities, and sets fee arrangements. It's particularly important in the South African context where audit firms must demonstrate compliance with IRBA requirements and maintain clear documentation of engagement terms. The Audit Acceptance Letter also helps manage expectations and reduces the risk of misunderstandings between parties by clearly documenting the agreed-upon terms of the audit engagement.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Letterhead and Date: Audit firm's official letterhead and current date
2. Addressee Details: Client company name, address, and appropriate contact person (usually those charged with governance)
3. Engagement Confirmation: Clear statement accepting the appointment as auditors and the financial year(s) covered
4. Scope of Audit: Description of the audit's scope, including reference to applicable financial reporting framework and auditing standards
5. Auditor's Responsibilities: Clear outline of the auditor's responsibilities, including expressing an opinion on financial statements
6. Management's Responsibilities: Detailed description of management's responsibilities regarding financial statements and information access
7. Reporting Requirements: Format and timing of reports to be issued
8. Fee Arrangements: Audit fee structure, billing arrangements, and payment terms
9. Timeline: Key dates and deadlines for the audit process
10. Closing and Signatures: Request for acknowledgment, signature blocks for both parties
1. Group Audit Considerations: Include when the client is part of a group structure requiring additional audit considerations
2. Regulatory Requirements: Include for regulated entities or listed companies requiring specific regulatory compliance
3. Use of External Experts: Include when the audit will require the use of external experts or specialists
4. Internal Audit Cooperation: Include when there will be reliance on or cooperation with internal audit function
5. Data Protection Compliance: Include specific POPIA compliance requirements when handling sensitive personal information
6. Remote Working Arrangements: Include when audit procedures will be conducted remotely or in hybrid mode
1. Fee Schedule: Detailed breakdown of audit fees, including hourly rates and estimated hours
2. Timing Schedule: Detailed timeline of audit phases and key deliverables
3. Team Structure: Key audit team members and their roles
4. Required Client Documentation: List of documents and information required from the client
5. Standard Terms and Conditions: Firm's standard terms and conditions for audit services
Find the exact document you need
Legal Services Engagement Letter
A South African legal document establishing the terms of engagement between a law firm and client, outlining services, fees, and professional obligations.
Download
Management Representation Letter For Review Engagement
A formal written statement from management to the independent reviewer in South Africa, confirming responsibilities and representations made during the financial statement review process.
Download
Engagement Letter For Audit Services
A South African regulatory-compliant engagement letter outlining the terms and conditions for the provision of statutory audit services between an audit firm and client company.
Download
Engagement Letter For Accounting Services
A South African law-governed engagement letter for professional accounting services, detailing service scope, terms, and compliance requirements.
Download
Management Representation Letter For Compilation Engagement
A South African management representation letter confirming management's responsibilities and assertions to the accounting practitioner during a compilation engagement.
Download
Financial Review Engagement Agreement
A South African law-governed agreement establishing terms and conditions for professional financial review services, compliant with local regulations and international standards.
Download
Accounting Review Engagement Letter
A South African engagement letter establishing terms for a financial statement review under ISRE 2400 and local regulatory requirements.
Download
Engagement Letter For Bookkeeping Services
A South African law-governed engagement letter establishing terms and conditions for professional bookkeeping services, including scope, fees, and compliance requirements.
Download
Professional Engagement Letter
A South African legal document that establishes the terms and conditions of professional services between a service provider and client.
Download
Outsourced CFO Engagement Letter
A South African law-governed engagement letter establishing the terms and conditions for outsourced CFO services, including scope, responsibilities, and compliance requirements.
Download
Engagement Letter For Accounting And Tax Services
A South African law-governed letter establishing terms for professional accounting and tax services, including scope, responsibilities, and compliance requirements.
Download
Review Engagement Letter
A South African law-governed letter establishing terms and conditions for a limited assurance review engagement between an independent reviewer and client.
Download
Corporate Engagement Letter
A South African law-governed professional services engagement letter that establishes the terms, scope, and conditions of service delivery between a service provider and corporate client.
Download
Forensic Accounting Engagement Letter
A South African-compliant engagement letter establishing terms and conditions for forensic accounting services, including scope, methodology, and deliverables.
Download
Company Engagement Letter
A South African legal document establishing professional service relationships between service providers and client companies, outlining engagement terms and obligations.
Download
Assurance Engagement Letter
A South African-compliant engagement letter establishing terms and conditions for professional assurance services under IRBA requirements.
Download
Professional Services Engagement Letter
A South African engagement letter establishing professional services terms between service provider and client, compliant with local legislation.
Download
Project Engagement Letter
A formal document used in South Africa to establish the terms and conditions of a professional services project engagement, outlining scope, deliverables, and commercial terms in accordance with local law.
Download
Valuation Engagement Letter
A South African-compliant engagement letter establishing terms and conditions for professional valuation services, aligned with local legislation and international standards.
Download
Engagement Letter For Consulting Services
A South African-compliant engagement letter template for consulting services that establishes the terms, scope, and conditions of the consulting relationship.
Download
Audit Acceptance Letter
A formal letter used in South Africa to establish and define the terms of an audit engagement between an audit firm and its client, complying with South African audit regulations.
Download
Client Engagement Agreement
A South African law-governed agreement establishing terms and conditions between service providers and clients for professional engagements.
Download
Business Engagement Letter
A formal South African legal document establishing the terms and conditions of a professional service engagement between a service provider and client.
Download
Compilation Engagement Letter
A South African law-governed letter establishing terms for financial information compilation services between an accounting firm and client, following ISRS 4410 standards.
Download
Due Diligence Engagement Letter
A South African law-governed engagement letter establishing terms and conditions for professional due diligence services.
Download
Client Engagement Letter
A South African-compliant formal letter establishing the terms and conditions of professional services between a service provider and client.
Download
Legal Engagement Letter
A formal South African legal document establishing the terms of engagement between a law firm and client, including scope of services, fees, and compliance requirements.
Download
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it