Quotation Estimate Auditor in South Africa Johannesburg –Free Word Template Download with AI

1. Purpose of This Quotation Estimate

This Quotation Estimate is issued by ProAudit Solutions (Pty) Ltd to Mzansi Industrial Holdings (Pty) Ltd in respect of professional Auditor services to be rendered in South Africa Johannesburg and its surrounding metropolitan areas. This document sets out the full scope of work, the itemised cost structure, applicable terms and conditions, and the payment schedule for the engagement. The Quotation Estimate is binding on both parties once duly signed and returned within the validity period stated above. All fees quoted are exclusive of Value Added Tax (VAT) at the prevailing rate of 15% as applicable in South Africa Johannesburg and the broader Republic of South Africa.

2. Scope of Auditor Services

The Auditor engagement, as outlined in this Quotation Estimate, encompasses the following professional services to be delivered in South Africa Johannesburg:

• Annual Financial Statement Audit: A full statutory audit of the consolidated financial statements for the financial year ending 28 February 2025, conducted in accordance with International Standards on Auditing (ISA) as adopted in South Africa and the requirements of the Companies Act 71 of 2008.
• Internal Controls Review: A comprehensive assessment of the client's internal control environment, including segregation of duties, authorisation matrices, and IT general controls across all Johannesburg-based operational sites.
• Compliance Audit: Verification of compliance with the King IV Report on Corporate Governance, the Financial Advisory and Intermediary Services (FAIS) Act, and applicable South African tax legislation administered by the South African Revenue Service (SARS) in Johannesburg.
• Forensic Risk Assessment: A targeted review of high-risk transaction areas, including procurement, payroll, and intercompany transactions, to identify potential fraud indicators or material misstatements.
• Management Letter & Advisory Report: A written report detailing findings, recommendations, and remediation actions to be presented to the Audit Committee of the Board of Directors in Johannesburg.
• On-Site Fieldwork: A minimum of 18 business days of on-site fieldwork at the client's principal offices and warehouse facilities located in the Johannesburg metropolitan area, including Sandton, Rosebank, and Boksburg.

3. Itemised Cost Breakdown

4. Payment Terms & Schedule

This Quotation Estimate for Auditor services in South Africa Johannesburg shall be settled in accordance with the following schedule:

• 30% deposit (ZAR 283,486.50 incl. VAT) due upon acceptance of this Quotation Estimate and execution of the engagement letter.
• 40% progress payment (ZAR 377,982.00 incl. VAT) due upon completion of on-site fieldwork in Johannesburg.
• 30% final payment (ZAR 283,486.50 incl. VAT) due upon issuance of the final Auditor's report and Management Letter.
• All payments are to be made via Electronic Funds Transfer (EFT) to the bank account of ProAudit Solutions (Pty) Ltd, First National Bank, Johannesburg, Account No: 6284719305, Branch Code: 250655.
• Overdue payments shall attract interest at the rate of 2% per month or the maximum rate permitted by the National Credit Act, whichever is lower, as applicable in South Africa.

5. Terms & Conditions

• This Quotation Estimate is valid for thirty (30) calendar days from the date of issue. Thereafter, fees may be subject to revision based on prevailing market conditions in South Africa Johannesburg.
• The Auditor engagement shall be governed by the laws of the Republic of South Africa. Any disputes arising from this Quotation Estimate shall be subject to the jurisdiction of the High Court of South Africa, Gauteng Division, Johannesburg.
• The Auditor shall maintain professional independence and objectivity in accordance with the SAICA Code of Professional Conduct. The Auditor shall not provide any non-audit services that may impair independence during the engagement period.
• Confidentiality: All information obtained during the course of the Auditor engagement in South Africa Johannesburg shall be treated as strictly confidential and shall not be disclosed to any third party without the prior written consent of the client, except as required by law or regulatory authority.
• Limitation of Liability: The total liability of the Auditor under this Quotation Estimate shall not exceed the total fees payable hereunder. The Auditor shall be covered by professional indemnity insurance in the amount of not less than ZAR 10,000,000.
• Force Majeure: Neither party shall be liable for failure to perform obligations due to events beyond reasonable control, including but not limited to natural disasters, government-imposed lockdowns, or civil unrest in the Johannesburg metropolitan area.
• The Auditor reserves the right to withdraw from the engagement if the client fails to provide timely access to records, personnel, or facilities in Johannesburg, provided that fourteen (14) days' written notice is given.

6. Acceptance & Authorisation

By signing below, both parties acknowledge and agree to the terms, conditions, and fee structure set out in this Quotation Estimate for Auditor services in South Africa Johannesburg. This document constitutes a binding agreement upon full execution by both parties.