Internal Auditor Appointment Letter

________________________________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________
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 held on 1st 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

No comments:

Post a Comment