Quotation Estimate Auditor in Kuwait Kuwait City –Free Word Template Download with AI
Al-Nakheel Audit & Advisory Partners W.L.L.
Office 12, 4th Floor, Al-Salem Tower, Al-Salem Street, Kuwait City, Kuwait
Tel: +965 2244 5566 | Email: [email protected] | CR: 118452
| Client Name: | Al-Rashid Trading & Logistics Co. W.L.L. |
| Address: | Plot 45, Block 7, Salmiya Industrial Area, Kuwait City, Kuwait |
| Contact Person: | Mr. Fahad Al-Rashid, Chief Financial Officer |
| Reference No.: | ARTL-2025-AUD-003 |
This Quotation Estimate is issued by Al-Nakheel Audit & Advisory Partners W.L.L. to provide a comprehensive engagement for a licensed Auditor to perform statutory and internal audit services for Al-Rashid Trading & Logistics Co. W.L.L. The entire engagement will be conducted on-site in Kuwait, Kuwait City, in full compliance with the Kuwait Financial Supervision Authority (KFSA) regulations, the Kuwait Commercial Companies Law (Law No. 1 of 2016), and the International Standards on Auditing (ISA) as adopted by the Kuwait Institute of Certified Public Accountants (KICPA).
The appointed Auditor will be a Chartered Accountant registered with the KICPA, possessing a minimum of fifteen (15) years of experience in auditing multinational trading and logistics enterprises operating within Kuwait. The Auditor will report directly to the Board of Directors and the Audit Committee of the client, ensuring complete independence and objectivity throughout the engagement period in Kuwait, Kuwait City.
| Item No. | Description of Service | Duration | Rate (KWD) | Amount (KWD) |
|---|---|---|---|---|
| 01 | Appointment and onboarding of the lead Auditor in Kuwait, Kuwait City, including regulatory registration with KFSA and KICPA liaison | 1 week | 1,200.00 | 1,200.00 |
| 02 | Statutory annual audit of financial statements for fiscal year 2024–2025, conducted at the client's premises in Kuwait City, Kuwait | 6 weeks | 8,500.00 | 51,000.00 |
| 03 | Internal audit and risk assessment covering procurement, inventory, logistics operations, and revenue cycles | 4 weeks | 6,800.00 | 27,200.00 |
| 04 | Compliance review against Kuwait tax law, VAT regulations, and anti-money laundering (AML) directives applicable in Kuwait, Kuwait City | 2 weeks | 4,500.00 | 9,000.00 |
| 05 | Preparation and submission of the Auditor's report, management letter, and corrective action recommendations to the Board | 2 weeks | 3,800.00 | 7,600.00 |
| 06 | Quarterly interim review meetings and ad-hoc consultation with the Auditor (up to 8 hours per quarter) | 12 months | 2,200.00 | 8,800.00 |
| 07 | Travel, local transportation, and on-site accommodation for the Auditor team within Kuwait, Kuwait City | 15 weeks | 1,500.00 | 22,500.00 |
| Subtotal (KWD) | 127,300.00 | |||
| VAT @ 5% (Kuwait – exempt for professional services) | 0.00 | |||
| TOTAL AMOUNT DUE (KWD) | 127,300.00 | |||
- A non-refundable advance payment of 30% (KWD 38,190.00) is due within seven (7) business days of acceptance of this Quotation Estimate.
- A second installment of 40% (KWD 50,920.00) is due upon completion of the statutory audit fieldwork phase in Kuwait City, Kuwait.
- The remaining balance of 30% (KWD 38,190.00) is payable within fourteen (14) days of the Auditor's final report submission.
- All payments shall be made via bank transfer to Al-Nakheel Audit & Advisory Partners W.L.L., National Bank of Kuwait, Branch: Kuwait City, Account No. 0045-8821-3377.
- Late payments shall attract a penalty of 1.5% per month, in accordance with Kuwaiti commercial law.
- This Quotation Estimate is valid for thirty (30) calendar days from the date of issue. After the expiry date, pricing and availability of the designated Auditor are subject to reconfirmation.
- The Auditor shall maintain strict confidentiality of all financial records, trade secrets, and proprietary information of the client, in compliance with Kuwait's data protection and professional secrecy laws.
- All audit procedures will be performed in accordance with International Standards on Auditing (ISA) and the specific guidelines issued by the Kuwait Institute of Certified Public Accountants (KICPA) for engagements conducted in Kuwait, Kuwait City.
- The client shall provide the Auditor with timely and unrestricted access to all books of accounts, ledgers, bank statements, contracts, and supporting documentation located at the client's offices in Kuwait City, Kuwait.
- Any additional services beyond the scope outlined in this Quotation Estimate shall be subject to a separate written amendment and additional fees at the standard hourly rate of KWD 180.00 per hour for the Auditor and KWD 95.00 per hour for senior audit staff.
- This engagement is governed by the laws of the State of Kuwait. Any disputes arising from this Quotation Estimate shall be resolved through the competent courts in Kuwait City, Kuwait.
- The Auditor shall not be liable for any consequential or indirect losses arising from the use of audit findings or recommendations.
By signing below, the client acknowledges and accepts all terms, conditions, and pricing outlined in this Quotation Estimate for the engagement of the Auditor in Kuwait, Kuwait City.
For: Al-Nakheel Audit & Advisory Partners W.L.L.Name: ___________________________
Title: Managing Partner / Lead Auditor
Signature & Stamp: ___________________________
Date: ___________________________ For: Al-Rashid Trading & Logistics Co. W.L.L.
Name: ___________________________
Title: Chief Financial Officer
Signature & Stamp: ___________________________
Date: ___________________________ ⬇️ Download as DOCX Edit online as DOCX
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