These audits can be carried out at regular intervals or with the integration of company restructuring technologies to monitor the effectiveness of internal controls. An audit agreement is a kind of professional service contract that defines the conditions for the involvement of a legal auditor. You can establish a professional examination agreement that you can pass on to the employer so that you have the upper hand when these issues are discussed. Fortunately, Bonsai contains several models of audit agreements that you can download and edit. Try it now! Documentation and support for identification with relevant evidence is one of the essential skills that each auditor must possess. Audit reports should contain a summary of the work done, key results and final results. However, the process of submitting and adopting this report varies from company to company. Therefore, this part of the audit agreement deals with how the statutory auditor should write the report and support it with the relevant documents. Employers can dictate key performance indicators that govern the entire audit process. Indicators such as quality assurance, audit objectives, protocol, response times, etc., can calibrate your performance as an auditor. They can negotiate on this KPIs based on their feasibility and accessibility. Auditing can mean different things for different people and companies. It is therefore essential for the audit agreement to define the fundamental tasks that the legal auditor must perform.

This section discusses the scope of the work and describes the expectations of the statutory auditor. Some companies have a roadmap or timetable for the audit process. It is clear that any audit agreement must begin with an introduction that emphasizes the names of the parties involved. It also records the effective date of the review agreement. Some introductions may result in the time it took for the legal auditor to commit to the accounts or keep a flexible end date depending on the task. As monitoring is a recurring activity, the introduction can also define the frequency of audits.