The Audit Acceptance Letter is a crucial document required under Swiss corporate governance practices when a company appoints or reappoints statutory auditors. This document serves as the formal acceptance of the audit engagement and must comply with Swiss legal requirements, particularly the Swiss Code of Obligations (CO) and Swiss Auditing Standards. The letter is typically issued following the company's general meeting where the auditor appointment is approved, or upon initial engagement. It contains essential information about the audit scope, timeline, fees, and confirmation of the audit firm's independence. The Audit Acceptance Letter also establishes the framework for the working relationship between the audit firm and the client company, including specific responsibilities, reporting requirements, and any special considerations for the engagement under Swiss law.
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1. Letter Header: Formal business letter header including date, recipient details, and reference number
2. Addressee Information: Full name and address of the company's board of directors or responsible person
3. Subject Line: Clear indication that this is an audit acceptance letter for specified financial year
4. Engagement Confirmation: Confirmation of willingness to serve as statutory auditors and type of audit to be performed (ordinary or limited)
5. Scope of Services: Clear outline of the audit services to be provided and the relevant reporting period
6. Professional Standards Reference: Reference to Swiss auditing standards and legal requirements being followed
7. Independence Declaration: Statement confirming auditor's independence in accordance with Swiss regulations
8. Key Personnel: Identification of key team members and lead audit partner
9. Timeline: Proposed timeline for the audit process and key deliverables
10. Fee Structure Summary: Brief overview of fee arrangement (with details in schedule)
11. Acceptance Request: Request for formal acceptance of the appointment
12. Signature Block: Formal signature section for audit firm representative
1. Special Considerations: Additional paragraphs for specific industry requirements or special audit circumstances
2. Group Audit Arrangements: Required when the company is part of a group structure requiring consolidated audits
3. Previous Auditor Transition: Include when taking over from previous auditors to address handover arrangements
4. Regulatory Requirements: Additional section for regulated entities requiring specific regulatory compliance statements
5. Multi-Year Appointment: Include when the appointment is for multiple years rather than a single year
1. Detailed Fee Schedule: Breakdown of audit fees, payment terms, and conditions for additional charges
2. General Terms and Conditions: Standard terms of business for audit services
3. Scope of Work Detail: Detailed description of audit procedures and deliverables
4. Team Structure: Detailed organization chart and CVs of key team members
5. Timeline Schedule: Detailed audit timeline with key dates and milestones
6. Required Client Information: List of documents and information required from the client
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