{5 1233302915986. 22 24417950) & Partners eee WAKAV046117 February 20, 2017 ‘The Managing Director Prime Insurance Company Ld. P.O. Box GP 2122 Accra Dear Sir, AUDITORS ENGAGEMENT LETTER 2016 With reference to the previous year (2015) audit engagement letter, the audit fee for 2016 financial year is 630,000.00 and this Fee do not include the follov:ing; ‘* recoverable/reimbursable expenses which will be billed separately ‘© applicable taxes such as VAT & NHIL. and withholding tax. Our Payment Terms for the 2016 audit are as follows; + 50% on commencement of the assignment + 309 on presentation of the draft report * 2090 on presentation of the final report Agreement of terms Please note that all other terms and conditions per the 2015 audit engagement letter still hold and shall take effect immediately upon your countersigning this letter and returning it to us or upon the commencement of the audit Once it has been agreed, this letter remains a legal document. We shall be grateful if you could confirm your agreement to these terms by signing the enclosed copy of this leter and returning it to us immediately Ff you would like to discuss with us how our service could be improved or if you are dissatisfied with the service that you are receiving, please let us know by contacting Noble Y. Adonoo (Managing Partner) on 024 417 9511 or Joseph Zefo Kere (Senior Partner) on 024 467 0276. Yours faithfully, AKA & Partners Sree (Chartered Accountants) 1|Pag obleV-Adonoo | Joseph Zafo Kee | Michael AmenjekaWe confirm that we have read and understood the contents of this letter and agree that it accurately reflects the services that we have instructed you to provide. ow BPA je WameiceTes NoPE ome neues um AAG Wa BYR ee ite, «7° oe a Roms MANAGING DIREC! For and on behalf of Prime Insurance Company Li 2|Page