Professional Documents
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Carmela Smith
Chantal Goods, Inc.
Highlands Hills Street
Cebu City
maintaining internal controls, including monitoring ongoing activities and for the selection and
application of accounting principles.
Management is responsible for making all financial records and related information available to
us on a timely basis. Your responsibilities include adjusting the financial statements to correct
material misstatements and confirming to us in the representation letter that the effects of any
uncorrected misstatements aggregated by us during the current engagement and pertaining to
the latest period presented are immaterial, both individually and in the aggregate, to the
financial statements taken as a whole.
The procedures that we will perform are solely to provide assurance regarding accuracy of
assertions or in simple words whether financial statements reflect true state of affairs of the
entity. External auditors opinion in no way helps users to derive conclusions regarding
managerial effectiveness or future viability of the entity and thus limited only to provide
assurance regarding preparation and presentation of financial statements according to specific
accounting framework.
We estimate our fees will be from P100,000-120,000. Our fees, with additional out-of pocketexpenses, will be billed as work progresses. We will address our invoices to John Smith, VPController.
Sincerely Yours,
Vianca Pearl Amores, CPA
The services and terms as set in this letter are agreed to.
Chantal Goods, Inc.
By:
_____________________________
Chantal Styles, CFA
CEO
_____________________________
Date