Document background
The Assurance Engagement Letter is a crucial document used in the Australian professional services context when an assurance practitioner or firm is engaged to provide independent assurance services. It is required by professional standards and best practices to clearly document the terms of engagement between the assurance provider and the client. The letter establishes the scope of work, methodology, responsibilities, and deliverables while ensuring compliance with Australian Auditing and Assurance Standards Board (AUASB) requirements, particularly ASAE 3000 for assurance engagements. This document is essential for risk management, professional liability protection, and setting clear expectations for both parties. It should be executed before the commencement of any assurance services and updated when there are significant changes to the engagement terms.
