Timing and Delivery of Services. The audit services may begin upon mutual agreement, as stated in the Engagement Letter, and continue for one (1) year commencing on the last date of approval by DIR and [add audit firm or auditor’s name]. We will conduct our work at your location in Austin, Texas. We will, at all times, coordinate our work with you to provide the least disruption of the DIR’s day-to-day operations. [add audit firm or auditor’s name] will maintain the confidentiality and security of audit work papers and DIR’s confidential information in accordance with applicable professional standards. Accordingly, [add audit firm or auditor’s name] will maintain and execute the required safeguards to protect the confidentiality of the audit work papers and DIR’s confidential information. [add audit firm or auditor’s name] agrees that DIR shall have no liability to [add audit firm or auditor’s name] or to any person or entity for disclosing information in accordance with the Public Information Act. It is solely [add audit firm or auditor’s name] obligation to assert and maintain the confidential or proprietary nature of any information it provides in its response. Both parties agree that any dispute between DIR and [add audit firm or auditor’s name] arising from the services and/or deliverables performed under this Engagement Letter or related contract, or breach of it, may, if negotiations and other discussion fail, be resolved using the dispute resolution process provided for in Chapter 2260 of the Texas Government Code. Actions or proceedings arising from this Engagement Letter or related contract shall be heard in a state court of competent jurisdiction in Xxxxxx County, Texas. In the unlikely event that circumstances occur which [add audit firm or auditor’s name] in its sole discretion believe could create a conflict with either the ethical standards of [add audit firm or auditor’s name] or the ethical standards of the profession in continuing our services, [add audit firm or auditor’s name] may suspend the services until a satisfactory resolution can be achieved or may resign from the services. [add audit firm or auditor’s name] will notify the Director of Internal Audit of such conflict as soon as practicable, and will discuss with any possible means of resolving them prior to suspending the services. This Engagement Letter is also subject to termination by either party upon reasonable notice for any reason. If there were to be such a termination; however, DIR would remain liable for any unpaid charges for services provided by [add audit firm or auditor’s name]. One time invoice at the end of audit work not exceeding the agreed lump-sum amount. X X X Monthly invoices based on the agreed hourly rate. X At a minimum, the invoice shall include the following: • The period covered by the invoice; • Named resources; • Rate of pay, and; • Number of actual hours worked. DIR will serve as client for the audit services provided and will remit payment to [add audit firm or auditor’s name]. DIR shall comply with Chapter 2251, Texas Government Code, in making payments to [add audit firm or auditor’s name]. The statute states that payments for goods and services are due thirty (30) calendar days after the goods are provided, the services completed, or a correct invoice is received, whichever is later. Payment under this Engagement Letter shall not foreclose the right to recover wrongful payments. As per Section 151.309, Texas Tax Code, DIR under this Engagement Letter is exempt from the assessment of State sales, use and excise taxes. Further, DIR under this Engagement Letter is exempt from Xxxxxxx Xxxxxx Xxxxx, 00 Xxxxxx Xxxxxx Code Sections 4253(i) and (j). Attention: [add name], Director of Internal Audit 000 Xxxx 00xx Xxxxxx Xxxxx 0000 Xxxxxx, XX 00000 • A DIR Board member, [add audit firm or auditor’s name], or DIR employee may not have a direct interest in the gains or profits executed by DIR pursuant to this Engagement Letter and may not receive any payment or emolument for any service performed for DIR. • [add audit firm or auditor’s name] shall hold DIR harmless for and shall indemnify DIR against any and all claims, losses, damages, or liabilities arising out of, or in connection with, the negligent acts or omissions of [add audit firm or auditor’s name], its agents, employees, or subcontractors, arising out of or in connection with any aspect of the audit staff requirements or performance under this Engagement Letter or related contract. • [add audit firm or auditor’s name] agrees that it shall not have the right to assign, transfer or convey any of its rights, title, or interest hereunder or to delegate any of its duties or obligations without the prior written consent of DIR. • In the event that [add audit firm or auditor’s name] fails or refuses to perform, or is negligent in the performance of any of its duties or obligations as provided by this Engagement Letter, DIR without limiting any other rights or remedies it may have by law, equity, or contract, shall have the right to terminate this Engagement Letter immediately. • Any planned or proposed use of subcontractors shall be clearly documented and communicated in writing to DIR. • [add audit firm or auditor’s name] shall maintain, at its expense, professional liability (errors and omissions) insurance coverage that provides a minimum limit of liability per occurrence of $1,000,000, to pay on behalf of the insured all sums which the insured shall become legally obligated to pay as damages by reason of any negligent act, error, or omission of the audit firm arising out of the performance of its professional duties under this Engagement Letter. • If coverage is written on a claims made basis, the retroactive date shall be prior to or coincident with the term of this Engagement Letter and the certificate of insurance shall state that the coverage is claims made and indicate the retroactive date. This coverage shall be continuous and will be provided for twenty-four (24) months following the completion of this Engagement Letter. • [add audit firm or auditor’s name] understands that acceptance of state funds under this Engagement Letter acts as acceptance of the authority of the State Auditor's Office to conduct an audit or investigation in connection with those funds. [add audit firm or auditor’s name] further agrees to cooperate fully with the State Auditor's Office in the conduct of the audit or investigation, including providing all records requested. [add audit firm or auditor’s name] agrees the State Auditor's Office shall at any time have access to and the rights to examine, audit, excerpt, and transcribe any pertinent books, documents, audit documentation, and records relating to this Engagement Letter. We appreciate the opportunity to be of service to you and believe that this Engagement Letter accurately summarizes the significant terms of the audit service. If you have any questions, please let us know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed copy to confirm your understanding, and return it to us. Sincerely, Authorized By: Name: Title: Date: Authorized By: Name: Title: Date: Dear Ms. We look forward to the opportunity to perform audit services for the Texas Department of Information Resources (the Agency). This letter is to confirm our engagement to provide audit services and to set the scope, services and deliverables, acceptance of services and deliverables, roles, responsibilities, Staffing Plan, timing, confidentiality of information, dispute resolution, fee arrangements, and requirements. Your single point of contact for the services under this Engagement Letter is . We will work with the DIR Director of Internal Audit and subject matter experts and/or points of contact of the Agency to perform an audit of the financial statements of [add company name]. which comprise the balance sheet as of [add date] and the related statements of income and members’ capital and cash flows for the year then ended and the related notes to the financial statements. We are pleased to confirm our acceptance and our understanding of this audit engagement by means of this letter. Our audit will be conducted with the objective of our expressing an opinion on the financial statements. The period covered by this Engagement Letter will be one (1) year commencing on the last date of approval by DIR and [add audit firm or auditor’s name]. Prior to expiration of the original term, DIR and [add audit firm or auditor’s name] may extend this engagement, upon mutual agreement, for up to one (1) optional one-year term. This Engagement Letter and all its aspects shall be for the period covered under this Engagement Letter unless terminated, renewed, or extended by DIR. As DIR Internal Audit determines the need for audit services, DIR Internal Audit is issuing a Draft Engagement Letter to [add audit firm or auditor’s name] with the objectives and scope of work to obtain staffing resources, pricing quotations (fees), and availability. [add audit firm or auditor’s name] will complete the Draft Engagement Letter and return to DIR with named resources (audit staff) to provide the audit services, the number of estimated hours required, and a firm fixed hourly rate to complete the required audit service. DIR Internal Audit will select [add audit firm or auditor’s name] for the audit service based on requirements and qualifications. Once [add audit firm or auditor’s name] is selected, a Final Engagement Letter will be executed by DIR and [add audit firm or auditor’s name] to authorize the work to be performed. After the Engagement Letter is executed, [add audit firm or auditor’s name] will develop and submit a Planning Memo (using DIR Internal Audit’s template) detaining the audit service to be performed, objective(s), scope, timelines, fees, and other relevant information. The Director of Internal Audit will approve the Planning Memo. Approval of the Planning Memo allows [add audit firm or auditor’s name] to start the audit work. [add the auditor’s name] Manager Reviewer [days of week and time] [add the auditor’s name] Senior Auditor Preparer M-F 8:00 AM – 5:00 PM [add the auditor’s name] Staff Auditor Preparer M-F 8:00 AM – 5:00 PM If either resource named above is not available or for the replacement of any personnel who may be deemed to be unacceptable by DIR, [add audit firm or auditor’s name] shall propose replacement staff to provide services. Replacement staff shall be of similar or increased experience and qualifications. DIR reserves the right to reject any proposed replacement personnel. [add audit firm or auditor’s name] may be required to provide a resume, certifications, and/or any other information necessary for DIR to make a determination of the acceptability of the proposed personnel.
Appears in 3 contracts
Samples: Contract for Audit Services, Contract for Audit Services, Contract for Audit Services
Timing and Delivery of Services. The audit services may begin upon mutual agreement, as stated in the Engagement Letter, and continue for one (1) year commencing on the last date of approval by DIR and [add audit firm or auditor’s name]. We will conduct our work at your location in Austin, Texas. We will, at all times, coordinate our work with you to provide the least disruption of the DIR’s day-to-day operations. [add audit firm or auditor’s name] will maintain the confidentiality and security of audit work papers and DIR’s confidential information in accordance with applicable professional standards. Accordingly, [add audit firm or auditor’s name] will maintain and execute the required safeguards to protect the confidentiality of the audit work papers and DIR’s confidential information. [add audit firm or auditor’s name] agrees that DIR shall have no liability to [add audit firm or auditor’s name] or to any person or entity for disclosing information in accordance with the Public Information Act. It is solely [add audit firm or auditor’s name] obligation to assert and maintain the confidential or proprietary nature of any information it provides in its response. Both parties agree that any dispute between DIR and [add audit firm or auditor’s name] arising from the services and/or deliverables performed under this Engagement Letter or related contract, or breach of it, may, if negotiations and other discussion fail, be resolved using the dispute resolution process provided for in Chapter 2260 of the Texas Government Code. Actions or proceedings arising from this Engagement Letter or related contract shall be heard in a state court of competent jurisdiction in Xxxxxx County, Texas. In the unlikely event that circumstances occur which [add audit firm or auditor’s name] in its sole discretion believe could create a conflict with either the ethical standards of [add audit firm or auditor’s name] or the ethical standards of the profession in continuing our services, [add audit firm or auditor’s name] may suspend the services until a satisfactory resolution can be achieved or may resign from the services. [add audit firm or auditor’s name] will notify the Director of Internal Audit of such conflict as soon as practicable, and will discuss with any possible means of resolving them prior to suspending the services. This Engagement Letter is also subject to termination by either party upon reasonable notice for any reason. If there were to be such a termination; however, DIR would remain liable for any unpaid charges for services provided by [add audit firm or auditor’s name]. One time invoice at the end of audit work not exceeding the agreed lump-sum amount. X X X Monthly invoices based on the agreed hourly rate. X At a minimum, the invoice shall include the following: • The period covered by the invoice; • Named resources; • Rate of pay, and; • Number of actual hours worked. DIR will serve as client for the audit services provided and will remit payment to [add audit firm or auditor’s name]. DIR shall comply with Chapter 2251, Texas Government Code, in making payments to [add audit firm or auditor’s name]. The statute states that payments for goods and services are due thirty (30) calendar days after the goods are provided, the services completed, or a correct invoice is received, whichever is later. Payment under this Engagement Letter shall not foreclose the right to recover wrongful payments. As per Section 151.309, Texas Tax Code, DIR under this Engagement Letter is exempt from the assessment of State sales, use and excise taxes. Further, DIR under this Engagement Letter is exempt from Xxxxxxx Xxxxxx Xxxxx, 00 Xxxxxx Xxxxxx Code Sections 4253(i) and (j). Attention: [add name], Director of Internal Audit 000 Xxxx 00xx Xxxxxx Xxxxx 0000 Xxxxxx, XX 00000 • A DIR Board member, [add audit firm or auditor’s name], or DIR employee may not have a direct interest in the gains or profits executed by DIR pursuant to this Engagement Letter and may not receive any payment or emolument for any service performed for DIR. • [add audit firm or auditor’s name] shall hold DIR harmless for and shall indemnify DIR against any and all claims, losses, damages, or liabilities arising out of, or in connection with, the negligent acts or omissions of [add audit firm or auditor’s name], its agents, employees, or subcontractors, arising out of or in connection with any aspect of the audit staff requirements or performance under this Engagement Letter or related contract. • [add audit firm or auditor’s name] agrees that it shall not have the right to assign, transfer or convey any of its rights, title, or interest hereunder or to delegate any of its duties or obligations without the prior written consent of DIR. • In the event that [add audit firm or auditor’s name] fails or refuses to perform, or is negligent in the performance of any of its duties or obligations as provided by this Engagement Letter, DIR without limiting any other rights or remedies it may have by law, equity, or contract, shall have the right to terminate this Engagement Letter immediately. • Any planned or proposed use of subcontractors shall be clearly documented and communicated in writing to DIR. • [add audit firm or auditor’s name] shall maintain, at its expense, professional liability (errors and omissions) insurance coverage that provides a minimum limit of liability per occurrence of $1,000,000, to pay on behalf of the insured all sums which the insured shall become legally obligated to pay as damages by reason of any negligent act, error, or omission of the audit firm arising out of the performance of its professional duties under this Engagement Letter. • If coverage is written on a claims made basis, the retroactive date shall be prior to or coincident with the term of this Engagement Letter and the certificate of insurance shall state that the coverage is claims made and indicate the retroactive date. This coverage shall be continuous and will be provided for twenty-four (24) months following the completion of this Engagement Letter. • [add audit firm or auditor’s name] understands that acceptance of state funds under this Engagement Letter acts as acceptance of the authority of the State Auditor's Office to conduct an audit or investigation in connection with those funds. [add audit firm or auditor’s name] further agrees to cooperate fully with the State Auditor's Office in the conduct of the audit or investigation, including providing all records requested. [add audit firm or auditor’s name] agrees the State Auditor's Office shall at any time have access to and the rights to examine, audit, excerpt, and transcribe any pertinent books, documents, audit documentation, and records relating to this Engagement Letter. We appreciate the opportunity to be of service to you and believe that this Engagement Letter accurately summarizes the significant terms of the audit service. If you have any questions, please let us know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed copy to confirm your understanding, and return it to us. Sincerely, Authorized By: Name: Title: Date: Authorized By: Name: Title: Date: Dear Ms. We look forward to the opportunity to perform audit services for the Texas Department of Information Resources (the Agency). This letter is to confirm our engagement to provide audit services and to set the scope, services and deliverables, acceptance of services and deliverables, roles, responsibilities, Staffing Plan, timing, confidentiality of information, dispute resolution, fee arrangements, and requirements. Your single point of contact for the services under this Engagement Letter is . We will work with the DIR Director of Internal Audit and subject matter experts and/or points of contact of the Agency to perform an audit of the financial statements of [add company name]. which comprise the balance sheet as of [add date] and the related statements of income and members’ capital and cash flows for the year then ended and the related notes to the financial statements. We are pleased to confirm our acceptance and our understanding of this audit engagement by means of this letter. Our audit will be conducted with the objective of our expressing an opinion on the financial statements. The period covered by this Engagement Letter will be one (1) year commencing on the last date of approval by DIR and [add audit firm or auditor’s name]. Prior to expiration of the original term, DIR and [add audit firm or auditor’s name] may extend this engagement, upon mutual agreement, for up to one (1) optional one-year term. This Engagement Letter and all its aspects shall be for the period covered under this Engagement Letter unless terminated, renewed, or extended by DIR. As DIR Internal Audit determines the need for audit services, DIR Internal Audit is issuing a Draft Engagement Letter to [add audit firm or auditor’s name] with the objectives and scope of work to obtain staffing resources, pricing quotations (fees), and availability. [add audit firm or auditor’s name] will complete the Draft Engagement Letter and return to DIR with named resources (audit staff) to provide the audit services, the number of estimated hours required, and a firm fixed hourly rate to complete the required audit service. DIR Internal Audit will select [add audit firm or auditor’s name] for the audit service based on requirements and qualifications. Once [add audit firm or auditor’s name] is selected, a Final Engagement Letter will be executed by DIR and [add audit firm or auditor’s name] to authorize the work to be performed. After the Engagement Letter is executed, [add audit firm or auditor’s name] will develop and submit a Planning Memo (using DIR Internal Audit’s template) detaining the audit service to be performed, objective(s), scope, timelines, fees, and other relevant information. The Director of Internal Audit will approve the Planning Memo. Approval of the Planning Memo allows [add audit firm or auditor’s name] to start the audit work. [add the auditor’s name] Manager Reviewer [days of week and time] [add the auditor’s name] Senior Auditor Preparer M-F 8:00 AM – 5:00 PM [add the auditor’s name] Staff Auditor Preparer M-F 8:00 AM – 5:00 PM If either resource named above is not available or for the replacement of any personnel who may be deemed to be unacceptable by DIR, [add audit firm or auditor’s name] shall propose replacement staff to provide services. Replacement staff shall be of similar or increased experience and qualifications. DIR reserves the right to reject any proposed replacement personnel. [add audit firm or auditor’s name] may be required to provide a resume, certifications, and/or any other information necessary for DIR to make a determination of the acceptability of the proposed personnel.
Appears in 2 contracts
Samples: Contract for Audit Services, Contract for Audit Services
Timing and Delivery of Services. The audit services may begin upon mutual agreement, as stated in the Engagement Letter, and continue for one (1) year commencing on the last date of approval by DIR and [add audit firm or auditor’s name]. We will conduct our work at your location in Austin, Texas. We will, at all times, coordinate our work with you to provide the least disruption of the DIR’s day-to-day operations. [add audit firm or auditor’s name] will maintain the confidentiality and security of audit work papers and DIR’s confidential information in accordance with applicable professional standards. Accordingly, [add audit firm or auditor’s name] will maintain and execute the required safeguards to protect the confidentiality of the audit work papers and DIR’s confidential information. [add audit firm or auditor’s name] agrees that DIR shall have no liability to [add audit firm or auditor’s name] or to any person or entity for disclosing information in accordance with the Public Information Act. It is solely [add audit firm or auditor’s name] obligation to assert and maintain the confidential or proprietary nature of any information it provides in its response. Both parties agree that any dispute between DIR and [add audit firm or auditor’s name] arising from the services and/or deliverables performed under this Engagement Letter or related contract, or breach of it, may, if negotiations and other discussion fail, be resolved using the dispute resolution process provided for in Chapter 2260 of the Texas Government Code. Actions or proceedings arising from this Engagement Letter or related contract shall be heard in a state court of competent jurisdiction in Xxxxxx County, Texas. In the unlikely event that circumstances occur which [add audit firm or auditor’s name] in its sole discretion believe could create a conflict with either the ethical standards of [add audit firm or auditor’s name] or the ethical standards of the profession in continuing our services, [add audit firm or auditor’s name] may suspend the services until a satisfactory resolution can be achieved or may resign from the services. [add audit firm or auditor’s name] will notify the Director of Internal Audit of such conflict as soon as practicable, and will discuss with any possible means of resolving them prior to suspending the services. This Engagement Letter is also subject to termination by either party upon reasonable notice for any reason. If there were to be such a termination; however, DIR would remain liable for any unpaid charges for services provided by [add audit firm or auditor’s name]. One time invoice at the end of audit work not exceeding the agreed lump-sum amount. X X X Monthly invoices based on the agreed hourly rate. X At a minimum, the invoice shall include the following: • The period covered by the invoice; • Named resources; • Rate of pay, and; • Number of actual hours worked. DIR will serve as client for the audit services provided and will remit payment to [add audit firm or auditor’s name]. DIR shall comply with Chapter 2251, Texas Government Code, in making payments to [add audit firm or auditor’s name]. The statute states that payments for goods and services are due thirty (30) calendar days after the goods are provided, the services completed, or a correct invoice is received, whichever is later. Payment under this Engagement Letter shall not foreclose the right to recover wrongful payments. As per Section 151.309, Texas Tax Code, DIR under this Engagement Letter is exempt from the assessment of State sales, use and excise taxes. Further, DIR under this Engagement Letter is exempt from Xxxxxxx Xxxxxx Xxxxx, 00 Xxxxxx Xxxxxx Code Sections 4253(i) and (j). Attention: [add name], Director of Internal Audit 000 Xxxx 00xx Xxxxxx Xxxxx 0000 Xxxxxx, XX 00000 • A DIR Board member, [add audit firm or auditor’s name], or DIR employee may not have a direct interest in the gains or profits executed by DIR pursuant to this Engagement Letter and may not receive any payment or emolument for any service performed for DIR. • [add audit firm or auditor’s name] shall hold DIR harmless for and shall indemnify DIR against any and all claims, losses, damages, or liabilities arising out of, or in connection with, the negligent acts or omissions of [add audit firm or auditor’s name], its agents, employees, or subcontractors, arising out of or in connection with any aspect of the audit staff requirements or performance under this Engagement Letter or related contract. • [add audit firm or auditor’s name] agrees that it shall not have the right to assign, transfer or convey any of its rights, title, or interest hereunder or to delegate any of its duties or obligations without the prior written consent of DIR. • In the event that [add audit firm or auditor’s name] fails or refuses to perform, or is negligent in the performance of any of its duties or obligations as provided by this Engagement Letter, DIR without limiting any other rights or remedies it may have by law, equity, or contract, shall have the right to terminate this Engagement Letter immediately. • Any planned or proposed use of subcontractors shall be clearly documented and communicated in writing to DIR. • [add audit firm or auditor’s name] shall maintain, at its expense, professional liability (errors and omissions) insurance coverage that provides a minimum limit of liability per occurrence of $1,000,000, to pay on behalf of the insured all sums which the insured shall become legally obligated to pay as damages by reason of any negligent act, error, or omission of the audit firm arising out of the performance of its professional duties under this Engagement Letter. • If coverage is written on a claims made basis, the retroactive date shall be prior to or coincident with the term of this Engagement Letter and the certificate of insurance shall state that the coverage is claims made and indicate the retroactive date. This coverage shall be continuous and will be provided for twenty-four (24) months following the completion of this Engagement Letter. • [add audit firm or auditor’s name] understands that acceptance of state funds under this Engagement Letter acts as acceptance of the authority of the State Auditor's Office to conduct an audit or investigation in connection with those funds. [add audit firm or auditor’s name] further agrees to cooperate fully with the State Auditor's Office in the conduct of the audit or investigation, including providing all records requested. [add audit firm or auditor’s name] agrees the State Auditor's Office shall at any time have access to and the rights to examine, audit, excerpt, and transcribe any pertinent books, documents, audit documentation, and records relating to this Engagement Letter. We appreciate the opportunity to be of service to you and believe that this Engagement Letter accurately summarizes the significant terms of the audit service. If you have any questions, please let us know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed copy to confirm your understanding, and return it to us. Sincerely, Authorized By: Name: Title: Date: Authorized By: Name: Title: Date: Dear Ms. We look forward to the opportunity to perform audit services for the Texas Department of Information Resources (the Agency). This letter is to confirm our engagement to provide audit services and to set the scope, services and deliverables, acceptance of services and deliverables, roles, responsibilities, Staffing Plan, timing, confidentiality of information, dispute resolution, fee arrangements, and requirements. Your single point of contact for the services under this Engagement Letter is . We will work with the DIR Director of Internal Audit and subject matter experts and/or points of contact of the Agency to perform an audit of the financial statements of [add company name]. which comprise the balance sheet as of [add date] and the related statements of income and members’ capital and cash flows for the year then ended and the related notes to the financial statements. We are pleased to confirm our acceptance and our understanding of this audit engagement by means of this letter. Our audit will be conducted with the objective of our expressing an opinion on the financial statements. The period covered by this Engagement Letter will be one (1) year commencing on the last date of approval by DIR and [add audit firm or auditor’s name]. Prior to expiration of the original term, DIR and [add audit firm or auditor’s name] may extend this engagement, upon mutual agreement, for up to one (1) optional one-year term. This Engagement Letter and all its aspects shall be for the period covered under this Engagement Letter unless terminated, renewed, or extended by DIR. As DIR Internal Audit determines the need for audit services, DIR Internal Audit is issuing a Draft Engagement Letter to [add audit firm or auditor’s name] with the objectives and scope of work to obtain staffing resources, pricing quotations (fees), and availability. [add audit firm or auditor’s name] will complete the Draft Engagement Letter and return to DIR with named resources (audit staff) to provide the audit services, the number of estimated hours required, and a firm fixed hourly rate to complete the required audit service. DIR Internal Audit will select [add audit firm or auditor’s name] for the audit service based on requirements and qualifications. Once [add audit firm or auditor’s name] is selected, a Final Engagement Letter will be executed by DIR and [add audit firm or auditor’s name] to authorize the work to be performed. After the Engagement Letter is executed, [add audit firm or auditor’s name] will develop and submit a Planning Memo (using DIR Internal Audit’s template) detaining the audit service to be performed, objective(s), scope, timelines, fees, and other relevant information. The Director of Internal Audit will approve the Planning Memo. Approval of the Planning Memo allows [add audit firm or auditor’s name] to start the audit work. [add the auditor’s name] Manager Reviewer [days of week and time] [add the auditor’s name] Senior Auditor Preparer M-F 8:00 AM – 5:00 PM [add the auditor’s name] Staff Auditor Preparer M-F 8:00 AM – 5:00 PM If either resource named above is not available or for the replacement of any personnel who may be deemed to be unacceptable by DIR, [add audit firm or auditor’s name] shall propose replacement staff to provide services. Replacement staff shall be of similar or increased experience and qualifications. DIR reserves the right to reject any proposed replacement personnel. [add audit firm or auditor’s name] may be required to provide a resume, certifications, and/or any other information necessary for DIR to make a determination of the acceptability of the proposed personnel.. [add audit firm or auditor’s name] will provide services and/or work products by the specified due dates, if applicable. For any deliverable provided by [add audit firm or auditor’s name] related to an audit service, the Director of Internal Audit or designee will have ten (10) business days to review and either accept or reject each deliverable in writing. If acceptance or rejection is not possible within this time period, DIR and [add audit firm or auditor’s name] will mutually determine the necessary additional time for review. In the event that a deliverable is not acceptable due to a material and substantial non-conformity, the Director of Internal Audit or designee will provide [add audit firm or auditor’s name] a written notice of such non-acceptance with sufficient detail to clearly identify the reason for non-acceptance. [add audit firm or auditor’s name] will have ten (10) business days following receipt of such notice of non-acceptance to use reasonable commercial efforts to cure or remedy the problems detailed therein, and resubmit the deliverable to DIR. In the event that the DIR Director of Internal Audit cannot reach agreement about: i) the acceptance of deliverables, ii) the achievement of milestones, or iii) the resolution of routine disputes that may arise during the course of the performance of this Engagement Letter or related contract,
Appears in 1 contract
Samples: Contract for Audit Services
