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PROFESSIONAL AUDIT SERVICES AGREEMENT by and between: SEDGWICK COUNTY, KANSAS AND Allen, Gibbs & Hulk, L.C. Certified Public Accountants THIS AGREEMENT made and entered into this day of March 2012,

How to fill out professional audit services agreement

1. First, gather all the necessary information and documents before starting to fill out the professional audit services agreement. This may include financial statements, previous audit reports, and any other relevant information.
2. Begin by entering the name and contact information of the party providing the audit services, as well as the name and contact information of the party receiving the services. This could be an individual or a company.
3. Clearly define the scope of the audit services being provided. This should detail what specific areas or aspects of the business will be covered by the audit.
4. Specify the duration of the agreement, including the starting and ending dates. It is important to clearly outline the timeline for when the audit will begin, when it will be completed, and any specific milestones or deadlines that need to be met.
5. Include a section that outlines the fees and payment terms for the audit services. This should detail how much the audit services will cost, how and when payment should be made, and any additional expenses or charges that may be incurred.
6. Address any confidentiality or non-disclosure requirements. If there are sensitive or confidential information involved in the audit process, it is crucial to include provisions that protect the confidentiality of the information.
7. Clearly outline the rights and responsibilities of both parties. This should include any specific obligations that each party needs to fulfill, as well as any limitations or liabilities.
8. Include any terms or conditions for termination of the agreement. Specify under what circumstances the agreement can be terminated and what procedures need to be followed in such cases.
9. Finally, ensure that both parties review the agreement thoroughly and understand the terms and conditions. It may be advisable to seek legal advice before signing the agreement to ensure that all necessary provisions are included and that both parties are protected.

Who needs professional audit services agreement?

1. Companies that want to ensure accurate financial reporting and compliance with regulatory requirements often require professional audit services agreements. These can include publicly traded companies, private businesses, non-profit organizations, and government entities.
2. Investors and lenders may also require companies to have a professional audit services agreement in place. These agreements provide assurance that the financial statements and other relevant information are reliable and accurate, which can be crucial for making investment or lending decisions.
3. Professional audit services agreements can also be beneficial for company shareholders, as they provide an objective evaluation of the company's financial health and performance. This information can help shareholders make informed decisions and protect their interests.
4. Government agencies and regulatory bodies may also require companies to have professional audit services agreements as part of their compliance obligations. These agreements ensure that companies meet the necessary standards and regulations in their respective industries.

Overall, professional audit services agreements are essential for businesses and organizations that seek transparency, credibility, and compliance in their financial reporting and operations.

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