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Request For Audit Services for Pakistan

Request For Audit Services Template for Pakistan

A Request For Audit Services document under Pakistani jurisdiction is a formal solicitation document used to invite qualified audit firms to submit proposals for providing professional audit services. This document outlines specific audit requirements, scope of work, qualification criteria, and evaluation methodology in accordance with Pakistani corporate law, particularly the Companies Act 2017 and SECP regulations. It includes detailed specifications for statutory audit requirements, compliance with International Standards on Auditing (ISA), and adherence to the Institute of Chartered Accountants of Pakistan (ICAP) guidelines, while ensuring transparency and fairness in the selection process.

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What is a Request For Audit Services?

The Request For Audit Services document is essential for organizations in Pakistan seeking to engage qualified audit firms for their statutory or special-purpose audit requirements. It is typically used when an organization needs to appoint new auditors, rotate existing auditors as per regulatory requirements, or procure specific audit services. The document must comply with the Companies Act 2017, SECP regulations, and ICAP guidelines, ensuring that proper procedures are followed in the selection of auditors. It includes comprehensive information about the organization's audit needs, evaluation criteria, submission requirements, and terms of engagement. This document is particularly important in Pakistan's corporate environment where regulatory compliance and transparent auditor selection are crucial for maintaining stakeholder confidence and meeting legal obligations.

What sections should be included in a Request For Audit Services?

1. Introduction: Overview of the organization seeking audit services and the purpose of the RFP

2. Scope of Services: Detailed description of the audit services required, including type of audit, period to be covered, and specific areas of focus

3. Timeline: Key dates including proposal submission deadline, selection process timeline, and expected audit completion dates

4. Qualification Requirements: Minimum qualifications required for audit firms, including licensing, experience, and professional certifications

5. Proposal Submission Requirements: Detailed instructions on proposal format, content requirements, and submission process

6. Evaluation Criteria: Description of how proposals will be evaluated and weighted scoring criteria

7. Terms and Conditions: General terms including confidentiality requirements, conflict of interest provisions, and regulatory compliance expectations

8. Contact Information: Details of the person(s) responsible for the RFP process and how to submit questions or seek clarifications

What sections are optional to include in a Request For Audit Services?

1. Pre-Proposal Conference: Details about any pre-proposal meetings or conferences, include when organizing a bidder's conference is planned

2. Site Visit Requirements: Information about site visits if physical inspection of facilities or operations is necessary

3. Past Audit Information: Overview of previous audit history and any specific challenges or requirements, include for organizations with complex audit history

4. Specific Industry Requirements: Special industry-specific audit requirements or regulations, include for regulated industries

5. International Reporting Requirements: Additional requirements for international reporting standards, include for organizations with international operations

6. Budget Guidelines: Expected budget range or financial parameters for the audit services, include when organization has specific budget constraints

What schedules should be included in a Request For Audit Services?

1. Appendix A - Scope of Work Detail: Detailed breakdown of specific audit requirements, locations, and departments to be covered

2. Appendix B - Required Forms: Standard forms that must be completed as part of the proposal submission

3. Appendix C - Price Schedule Template: Standardized format for submitting pricing information and fee structure

4. Appendix D - Draft Service Agreement: Sample agreement terms that will be used with the selected audit firm

5. Appendix E - Organization Information: Relevant background information about the organization, including structure and operations

6. Appendix F - Previous Financial Statements: Copy of most recent financial statements or audit reports if relevant to the scope

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Pakistan

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions








































Clauses






























Relevant Industries

Banking & Financial Services

Manufacturing

Technology

Healthcare

Education

Public Sector

Non-Profit Organizations

Retail

Energy & Utilities

Telecommunications

Real Estate & Construction

Professional Services

Relevant Teams

Finance

Internal Audit

Compliance

Procurement

Legal

Risk Management

Corporate Governance

Board Secretariat

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Finance Director

Audit Committee Chair

Company Secretary

Financial Controller

Compliance Officer

Procurement Manager

Internal Audit Manager

Risk Manager

Board Director

Finance Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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