ABSTRACT
The Engagement Memo is a document prepared by the internal audit team primarily for the internal audit team. It shows for the corresponding audit: Objective, scope, budget, timeline, team leader, team membership, work program. The contents of the Engagement Letter are very similar to the Engagement Memo, but the former is sent to the audit client. An important component of the Engagement Letter is that it also outlines the responsibilities and obligations of both parties, so it helps to clarify each other's roles. The engagement memo serves as a guide for the audit team, outlining the key aspects of the engagement like the scope, timeline, team membership, and engagement logistics. The engagement letter serves as the announcement for the project and communicates officially to the client what the event will cover, what to expect during the engagement and reporting protocols.
