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Tendering

Tender proposal contents

 The fee and how it has been calculated

 The nature, purpose and legal requirements of an audit

 An assessment of the requirements of the client

 An outline of how the audit firm proposes to satisfy those requirements the
assumptions made, e.g. on geographical coverage, deadlines, work done by
client, availability of information, etc.

 The proposed approach to the audit or audit methodology

 An outline of the firm and its personnel

 Quality control procedures of the firm including those relevant to the
engagement

 The ability of the firm to offer other services

Illustrations and further practice

Now try TYU question 1 from Chapter 6

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