The standard formats and templates of communications and reports will be part of the Technical Library provided by True and Fair Professionals Network, which would not be made available as part of ADAT. Such templates will be available on subscription basis (it’s a separate subscription than that of ADAT). The following formats (illustrative) would be part of the Technical Library.

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Eligibility letter

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Document for evaluation of the client- Know Your Client (KYC)

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Request for ‘No Objection Certificate’ (NOC) from predecessor auditor

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Acceptance letter

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Engagement letter

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Communication of resignation / intent to resign

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Declaration of independence

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Understanding joint auditors and joint audit plan

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Communication with Management and TCWG including communication of audit plan

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Format of external confirmations pertaining to:

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Property, plant and equipment with third parties

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Investments- details of holdings, terms, net asset value, etc.

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Trade receivables

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Advances (including capital advances)

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Inventory with third parties

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Security deposits

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Lease terms

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Cash balances

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Bank balances (including deposits)

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Borrowings

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Trade payables

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Terms of contracts

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Legal and compliance

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Related Parties

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Management representation letter (standalone and consolidated)

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Communication with those charged with governance (TCWG) - Audit conclusion and reporting

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Audit reports, including reporting on Internal Controls over Financial Reporting (IFCoFR) and Companies (Auditor’s Report) Order (‘CARO’) 2020 (standalone and consolidated)

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Minutes of discussion with the joint auditors - during the execution of the audit - significant matters

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Referral instructions to component auditors

Note -the above lists are not exhaustive and only illustrative.