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CONTRIBUTION OF THE
ENGAGEMENTS TO OUR
CLIENT
Our client, who is
responsible for the
preparation of the
audited or reviewed
financial statements and
for the execution of
transactions reflected
on them, presents our
audit or review report
to those with whom our
client has a business
relation such as
financial institutions,
suppliers, customers, or
to shareholders who do
not take part in
management. Submission
of an audit report is
becoming a very common
condition in business
contracts.
Our client, by doing so,
[if applicable] in
addition to fulfil a
condition of a business
contract;
a. Reveals, in
another way, his respect
to those with whom a
business relation
exists.
b. Removes
possible doubts of third
parties whether the
accuracy of the
financial information
submitted to them is
damaged due to erroneous
interpretation of the
standards.
c. Saves time and
energy which would have
been consumed in
explaining financial
details to related
parties if our report
had not been submitted.
In addition, improvable
areas that we note
during the audit or
review are communicated
together with our
relevant recommendations
to our client orally or
via a special report.
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