obligatory disclosure

voluntary disclosure

direct financial interest in a client

between members' and clients' interests

between the interests of different clients

separate engagement teams

prevent access to information

clear guidelines for members

confidentiality agreements signed by employees and partners

regular review of the application of safeguards

advising one or more clients to seek additional independent advice

preparing the financial statements

establish internal control to ensure the financial statements are free of material misstatement

provide the auditor with access to all records and documents and staff

The objective and scope of the audit

The auditor's responsibilities

Management's responsibilities

Identification of the applicable financial reporting framework for the preparation of the financial statements

Expected form and content of any reports to be issued

The form of any other communication of results of the audit engagement

The fact that some material misstatements may not be detected

Arrangements regarding the planning and performance of the audit,including the composition of the audit team

The expectation that management will provide written representations

The basis on which fees are computed and any billing arrangement

a written letter of the terms

common understanding