Quotation Estimate Auditor in Saudi Arabia Jeddah –Free Word Template Download with AI

This Quotation Estimate is formally issued by Al-Madina Professional Audit & Advisory Services Co. to Al-Rashid Trading & Logistics Co. Ltd. for the provision of comprehensive Auditor services to be conducted in Saudi Arabia Jeddah for the fiscal year ending 31 December 2025. This document outlines the full scope of engagement, the professional fees associated with the Auditor assignment, applicable terms, and the conditions governing the delivery of services within the Kingdom of Saudi Arabia, specifically the city of Jeddah.

The Auditor engagement, as detailed in this Quotation Estimate, encompasses the following professional services to be performed in Saudi Arabia Jeddah:

• Statutory Financial Audit: A full external audit of the annual financial statements in accordance with International Standards on Auditing (ISA) and the requirements of the Saudi Organization for Chartered and Professional Accountants (SOCPA), as well as the regulations issued by the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA) where applicable.
• Internal Control Assessment: Evaluation of the design and operating effectiveness of internal financial controls across all departments of the client's Jeddah headquarters and its satellite warehouses located in the Jeddah Islamic Port free zone.
• Tax Compliance Review: Verification of Value Added Tax (VAT) filings, Zakat calculations in compliance with the Zakat, Tax and Customs Authority (ZATCA) regulations, and corporate income tax obligations under Saudi Arabian law.
• Inventory and Fixed Asset Verification: Physical count observation and valuation testing of inventory held at the client's facilities in Jeddah, along with confirmation of fixed asset registers and depreciation schedules.
• Related-Party Transaction Review: Examination of all intercompany and related-party transactions to ensure proper disclosure and arm's-length pricing in compliance with Saudi commercial law.
• Management Letter and Recommendations: Preparation of a detailed management letter identifying control deficiencies, compliance gaps, and actionable recommendations for operational improvement.
• Board of Directors Presentation: A formal presentation of audit findings, the Auditor's opinion, and key risk areas to the client's Board of Directors and Audit Committee in Jeddah.

The following Quotation Estimate presents the professional fees for the Auditor engagement in Saudi Arabia Jeddah. All fees are quoted in Saudi Riyals (SAR) and are exclusive of applicable Value Added Tax (VAT) at the prevailing rate of 15%.

* All amounts are in Saudi Riyals (SAR). The VAT component is subject to change in accordance with ZATCA regulations in Saudi Arabia. This Quotation Estimate does not include any out-of-pocket expenses exceeding SAR 5,000, which will be billed at cost with prior written approval from the client.

1. This Quotation Estimate is valid for a period of thirty (30) calendar days from the date of issue. Upon expiry, the Auditor firm reserves the right to revise the fees based on prevailing market conditions in Saudi Arabia Jeddah.
2. Payment terms: 40% advance payment upon execution of the engagement letter, 40% upon completion of fieldwork, and 20% upon issuance of the final audit report. All payments are due within fourteen (14) days of invoice date.
3. The Auditor shall maintain strict confidentiality of all client information in accordance with the Saudi Data and AI Authority (SDAIA) regulations and the professional code of ethics of SOCPA.
4. The engagement shall be conducted in full compliance with the Saudi Companies Law, the Saudi Commercial Companies Law, and all applicable regulatory requirements in Saudi Arabia Jeddah.
5. The Auditor shall not be held liable for any losses arising from the client's failure to provide complete and accurate financial records, access to personnel, or cooperation during the audit period.
6. Any disputes arising from this Quotation Estimate or the subsequent engagement shall be resolved through arbitration in Jeddah, Saudi Arabia, in accordance with the rules of the Saudi Center for Commercial Arbitration (SCCA).
7. This Quotation Estimate does not constitute a binding contract until a formal engagement letter is executed by both parties.

By signing below, the client acknowledges receipt of this Quotation Estimate and agrees to the scope, fees, and terms outlined herein for the Auditor services to be rendered in Saudi Arabia Jeddah.