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Proposal Letter to Audit Samsung Electronics Proposal

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Updated: Mar 22nd, 2021

This is to inform you that the Authentic Auditors firm is in a position to offer auditing services to your company. We have audited companies with a structure similar to that of Samsung in the recent past. Thus, we have the necessary expertise and experience to handle the work.

The audit can be completed within two months. At the end of the whole exercise, recommendations on the appropriate changes in your internal control system will be provided. We also intend to audit the annual accounts of the company as well as handle any other accountancy procedures that may be required by the company. The findings of the exercise will be compiled into a report that will be presented to shareholders during the annual general meeting.

Authentic Auditor is a firm that has been in existence for three years and has staff members specialized in different auditing services such as forensic audits. The cost of the services will depend on the amount of work that we are to accomplish and the level of expertise required. More so, the kind of risk our audit firm exposes to will be considered in calculating the total cost.

In case we are to offer auditing services on your annual financial statements only, then we will charge you a fee equivalent to 7% from that yearโ€™s profit after tax and dividends. If the services involve other procedures we will set a fee after knowing what the procedures entail although a fee of 2% from the profit after tax is charged for system audits and compilation of financial statements (Randy 26).

In the preparation of the annual financial statements, we often use international financial reporting standards. The statements produced by our staff adhere to a standard format and can be used or published anywhere in the world. Since the auditing exercise is carried out according to the international audit standards, any average accountant can understand the report (Moore & Parker 30).

Recommended changes in the internal control system are also provided in the simplest format to give management an easy time in the implementation process. However, we still provide help in improving the system when the managers fail to understand the recommended changes. The costs and benefits of each of the recommended changes are also provided to enable managers to make informed decisions (Roemer 16).

We will request cooperation from your management during the exercise by allowing the audit staff to access all your financial records and other sources of information that will enhance the audit as it is meant for the best interest of the company. In case of limited scope, we will be glad to seek further evidence from the managers via management representations. Confidentiality of your trade secrets and other important details will be highly regarded in the auditing process as we will sign an oath of secrecy enforceable in perpetuity (Macfie 42).

At the end of the whole exercise, our staff will provide some recommendations about the system changes. This will be after a thorough investigation of the internal control system that is in place and we will provide a qualified or unqualified report depending on the evidence gathered from the audit exercise. One of our staff members will present the report to the shareholders during the annual general meeting.

The exercise of gathering evidence will take a maximum of one and a half months while compiling the report will take at least one week. After which it will be reviewed by the partners and panels of our firm to ensure that the report is objective and reliable.

Works Cited

Macfie, Alexander. A Reader. New York, NY: New York University Press, 2012. Print.

Moore, Noel & Richard Parker. Critical Thinking: Memo. London, UK: McGraw-Hill. 2012. Print.

Randy, Barnett. Audit. London, UK: Aspen Publishers, 2010. Print.

Roemer, John. Equality of Opportunity, Cambridge: Cambridge University Press, 2009. Print.

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IvyPanda. (2021, March 22). Proposal Letter to Audit Samsung Electronics. Retrieved from https://ivypanda.com/essays/proposal-letter-to-audit-samsung-electronics/

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"Proposal Letter to Audit Samsung Electronics." IvyPanda, 22 Mar. 2021, ivypanda.com/essays/proposal-letter-to-audit-samsung-electronics/.

1. IvyPanda. "Proposal Letter to Audit Samsung Electronics." March 22, 2021. https://ivypanda.com/essays/proposal-letter-to-audit-samsung-electronics/.


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IvyPanda. "Proposal Letter to Audit Samsung Electronics." March 22, 2021. https://ivypanda.com/essays/proposal-letter-to-audit-samsung-electronics/.

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IvyPanda. 2021. "Proposal Letter to Audit Samsung Electronics." March 22, 2021. https://ivypanda.com/essays/proposal-letter-to-audit-samsung-electronics/.

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IvyPanda. (2021) 'Proposal Letter to Audit Samsung Electronics'. 22 March.

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