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Initial Client Information

Client Name
Financial Year
Signatory Name
Report Date
Address
Auditor Name
Auditor Firm Name
FRN
Membership No.
Place
Nature of Business
Accounting Framework

Engagement Letter

Subject: Engagement Letter for Compilation of Financial Statements for the Financial Year

Dear Sir/Madam,

This letter is to confirm our understanding of the terms of engagement for the compilation of the financial statements of for the financial year ended 31st March, .

We will compile the financial statements in accordance with Standard on Related Services (SRS) 4410 (Revised), 'Compilation Engagements', issued by the Institute of Chartered Accountants of India (ICAI).

Our procedures will primarily consist of collecting, compiling, and presenting financial information in the form of financial statements, based on information provided by the management.

We will not audit or review the financial statements and accordingly will not express any assurance thereon.

Your responsibilities include:

  1. Ensuring that the financial information is complete and accurate.
  2. Providing us with all relevant records and information.
  3. Confirming that the financial statements comply with the applicable financial reporting framework.

We may request written representations from you to confirm oral representations given to us during the course of the engagement.

This letter confirms that you understand and accept the terms of our engagement.

Please acknowledge your acceptance of the terms of this engagement by signing and returning a copy of this letter.

We look forward to working with you.

Yours sincerely,

For
Chartered Accountants


Proprietor
Date:

Acknowledged and agreed to by:


Authorized Signatory
Date:

Chartered Accountants

📋 Compilation Engagement Assistance Checklist (SRS 4410)

Prepared By:

Date:

Verified By: _________________

Date: _________________

I. GENERAL INFORMATION

Client Name:
Engagement Period:
Nature of Business:
Accounting Framework:
Applicable Laws & Regulations: e.g. GST, Companies Act, etc.

II. INITIAL PROCEDURES

Engagement letter signed by client FALSE
Understanding of the client's business FALSE
Identification of applicable accounting framework and policies FALSE
Risk factors identified (if any) for scope consideration FALSE

III. SOURCE DOCUMENTATION & VALIDATION

1. Trial Balance and Ledgers

Obtain and verify opening trial balance FALSE
Compare with prior audited/compiled statements FALSE
Trace ledger balances to trial balance FALSE

2. Cash & Bank

Verify cash balances with physical cash count (if applicable) FALSE
Obtain bank statements & perform reconciliations FALSE
Identify stale cheques/unpresented items FALSE

Management Representation Letter

Subject: Management Representation Letter for Compilation Engagement for the Financial Year

Dear Sir/Madam,

This representation letter is provided in connection with the compilation of the financial statements of for the financial year ended 31st March, , performed by you in accordance with Standard on Related Services (SRS) 4410 (Revised), 'Compilation Engagements', issued by the Institute of Chartered Accountants of India (ICAI).

We acknowledge our responsibility for the fair presentation of the financial information and confirm, to the best of our knowledge and belief, the following representations:

  1. We have provided you with all relevant information and access to complete accounting records and supporting documentation.
  2. The financial statements are prepared in accordance with the applicable financial reporting framework and accounting policies as disclosed.
  3. All transactions undertaken by the entity have been properly recorded in the accounting records underlying the financial statements.
  4. There are no unrecorded assets or liabilities nor any undisclosed contingent liabilities or guarantees other than those disclosed.
  5. All known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed.
  6. There have been no events subsequent to the date of the financial statements which require adjustment or disclosure.
  7. Inventory is valued at the lower of cost and net realizable value, and all obsolete or slow-moving items have been adequately provided for.
  8. All applicable statutory dues including GST, TDS, PF, ESI, and other taxes have been appropriately accounted for and there are no known defaults.
  9. The organization is in compliance with all applicable laws and regulations that may have a material effect on the financial statements.
  10. Related party transactions have been appropriately identified and disclosed where required.

We understand that your engagement was conducted in accordance with SRS 4410 and that you have not audited or reviewed the financial statements and accordingly express no assurance thereon.

We acknowledge that the financial statements compiled by you are based on information provided by us and are our responsibility.

Thank you for your assistance.

Yours sincerely,


Authorized Signatory
Date:

Compilation Report

COMPILATION REPORT TO THE MANAGEMENT

We have compiled the accompanying financial statements of , which comprise the Balance Sheet as at 31st March , the Statement of Profit and Loss, and the notes forming part of the financial statements for the year then ended.

These financial statements are the responsibility of the management of the entity. Our responsibility is to compile these financial statements from the information and documentation provided by the management.

We performed our engagement in accordance with the Standard on Related Services (SRS) 4410 (Revised), 'Compilation Engagements', issued by the Institute of Chartered Accountants of India. This standard requires that we comply with ethical requirements and plan and perform the compilation engagement to assist management in preparing and presenting financial statements in accordance with the applicable financial reporting framework.

We have applied our expertise in accounting and financial reporting to assist management in the preparation and presentation of these financial statements. We have complied with the relevant ethical requirements under the Code of Ethics issued by the ICAI.

A compilation engagement does not involve performing audit or review procedures. Accordingly, we do not express an audit or a review opinion on these financial statements.

Place:
Date:

For
Chartered Accountants
(FRN: )


(M. No. )