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Any material findings involving fraud or error which will reduce the consolidated total assets of the
company by five percent (5%).
2.
Losses or potential losses the aggregate of which amounts to at least ten percent (10%) of the
consolidated total assets of the company;
3.
Any finding to the effect that the consolidated assets of the company, on a going concern basis
are no longer adequate to cover the total claims of creditors.
We look forward to full cooperation with your staff and we trust that they will make available to us
whatever records, documentation and other information are requested in connection with our audit. Our
fees, which will be billed as work progresses, are based on the time required by the individuals assigned
to the engagement plus out-of-pocket expenses. Individual hourly rates vary according to the degree of
responsibility involved and the experience and skill required.
This letter will be effective for ______ years unless it is terminated, amended or superseded.
Please sign and return the attached copy of this letter to indicate that it is in accordance with your
understanding of the arrangements for our audit of your financial statements.
Name of company
Acknowledged on behalf of the
company by:
Name/Title
______________________
(Signature/Date)
_______________________
(Signature/Date)