An engagement letter contains express or implied terms of the contractual arrangement with the client.Which of the following is not one of those terms?
A)To exercise a reasonable degree of skill and care.
B)To report the duties of the auditor.
C)To be independent of the company.
D)To give an opinion on the truth and fairness of the financial statements of the company.

Question

Quizplus · Accepted Answer

The engagement letter typically outlines the auditor's responsibilities, including exercising skill and care, maintaining independence, and providing an opinion on financial statements. However, it does not specifically include reporting the duties of the auditor, which is more about the scope of work rather than a contractual term.

An Engagement Letter Contains Express or Implied Terms of the Contractual