Audit Engagement Letter Used: D.5.

1 2017 SGV Audit Engagement Letter

Chin Abraham D. 10364

1st Page

 Addressing to the vice president/Chief Financial Officer of the client company

 Stating that there are attached general terms and conditions to this letter
 The service to be given by SGV to Corporate Guarantee and Insurance Company
 Purpose of the engagement letter
 Auditor Responsibilities to conduct in accordance with PSA
 The objective of the audit
 The required supplementary information by Revenue Regulations and SEC

2nd Page

 The level of assurance to be given by the audit

 How the auditors will tackle each step in the audit procedure until they come up with the opinion
 The inherent limitations that will be encountered in the audit process
 Matters that will be communicated to those charged with governance

3rd Page

 Cases to be reported to SEC should client company fail to disclose them under its current reports to the same
 Cases to be reported to Insurance Committee discovered based on PSA should client company fail to disclose them
 Procedure should there no needed matters to report to said committee

4th Page and 5th Page

 Management responsibilities on discussions between SGV and Insurance Committee except if they are fraudulent
 Responses to identified or suspected non-compliance
 How SGV will communicate them with those charge with governance any identified or suspected fraud
 The form and content of the audit report and procedure regarding circumstances affecting it
 Management Responsibilities and Representations relating to the audit

6th Page

 SGV’s estimated fees to be charged for their services

 Circumstances that would cause estimated fee to increase
 The schedule of performance and periodic invoices and payment die on them

7th Page

 Signature of the Engagement Partner

 Signature of the Vice President/Chief Financial Officer to whom the letter is addressed to
 Date when the signature was suffixed on the letter