Good Internal Auditor Appointment Letter

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Good Internal Auditor Appointment Letter Powered By Docstoc
					Sample Draft Letter Format for appointment of Tax, Cost, Statuary or External Auditor in a
public company in India in word / .doc

RCL/SECT/13-14/
July 2, 2013

M/s ABC Consultants & Associates
Chartered Accountants
4/15 Aadwani Road
Delhi -125 545

Dear Sir,

With reference to the various discussions you had with ourselves, we hereby appoint you as our
Internal Auditor for the Financial Year 2013-2014 vide the resolution passed in the Board Meeting
          st
held on 1 of May 2013.

The scope of work of the internal auditor will be to determine whether the organization’s network of
risk management, control and governance processes, as designed and represented by
management, is adequate and functioning in a manner to ensure:

    1) Examination of accounts (including resources & investments), expenditure audit,
       recoverable/payable, scrutiny of suspense and sundry accounts and other related records
       and verification of assets and liabilities so as to ensure that transactions are promptly and
       accurately recorded and reconciliation thereof. For the said purpose, transactions
       accounted for in the books may have to be scrutinized with reference to the initial
       documents and wherever necessary statistical comparison be made.

    2) Examination of the system of internal control including internal check being followed at the
       Factory and Head office for both soundness in principle and effectiveness in operation and
       recommendation for improvement/additional safeguards that may be required for
       strengthening the same. One of the objectives will be to build preventive safeguards
       against frauds, misappropriations or other losses.

Opportunities for improving management control, profitability and the organization’s image may be
identified during audit. These should be communicated to the appropriate level of management.

For your ready reference also please find the Guidelines to Internal Auditor in Annexure-I & II.

The Remuneration decided is as follows :

                                        Internal Audit Fees:       Rs. 15,00,000.00 p.a
                                        Stock Verification Fees:   Rs. 5,00,000.00 p.a

Thanking you,

Yours Faithfully,
For ROCKET SALES LTD



ANIL GANDA
PRESIDENT

				
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Description: Sample Draft Letter Format for appointment of Tax, Cost, Statuary or External Auditor in a public company in India in word / .doc