This AAS establishes standards on agreeing to the terms of engagement with the client and the auditor’s response to a request by client to change the terms of an engagement to one that provides lower level of assurance. The AAS discusses principal contents of an audit engagement letter, audit engagement letter in case of audit of components, factors affecting audit engagement letter in case of recurring audits. The AAS also extensively deals with the duties and responsibilities of the auditors in case of a change in engagement. |
--------------------------------------------------- |
Issued in January, 2003. |