Quotation Estimate Auditor in South Korea Seoul –Free Word Template Download with AI

This Quotation Estimate is formally issued by Seoul Audit & Compliance Solutions Co., Ltd. to provide a comprehensive and itemized cost breakdown for the engagement of a licensed Auditor to perform a full-scope financial and operational audit for Hanjin Manufacturing Group, Inc. This Quotation Estimate is specifically tailored for services to be conducted within the metropolitan area of South Korea Seoul, in full compliance with the Financial Supervisory Service (FSS) regulations, the Korean Commercial Act, and the International Standards on Auditing (ISA) as adopted by the Korean Institute of Certified Public Accountants (KICPA).

The Auditor engagement described in this Quotation Estimate encompasses statutory annual financial statement auditing, internal control evaluation, tax compliance verification, and regulatory reporting support. All fieldwork, document review, and client meetings will be physically conducted at the client's registered office located in Seocho-gu, South Korea Seoul, as well as at our firm's principal office in Gangnam-gu, South Korea Seoul.

The Auditor shall perform the following services as outlined in this Quotation Estimate:

• Statutory audit of annual financial statements (balance sheet, income statement, cash flow statement, and notes) in accordance with K-IFRS and K-GAAP applicable in South Korea Seoul.
• Review and testing of internal control systems over financial reporting (ICFR) for the fiscal year 2024.
• Verification of corporate tax filings, VAT returns, and local tax obligations as mandated by the National Tax Service of South Korea Seoul.
• Compliance assessment against the Capital Markets Act and the Act on the External Audit of Credit Financial Institutions where applicable.
• Preparation of the Auditor's Report and management letter for submission to the Board of Directors and the Financial Supervisory Service in South Korea Seoul.
• Advisory support on SOX-equivalent internal control remediation for the client's listed subsidiaries operating in South Korea Seoul.

As stipulated in this Quotation Estimate, the total fee of KRW 96,580,000 shall be paid in three installments: (a) 40% upon execution of the Auditor engagement letter; (b) 40% upon completion of fieldwork and issuance of the draft Auditor's Report; and (c) 20% upon final delivery of the signed Auditor's Report and management letter. All payments shall be made via bank transfer to the firm's account at KB Kookmin Bank, Gangnam Branch, South Korea Seoul. Late payments shall accrue interest at the rate of 1.5% per month as permitted under Korean commercial law.

• This Quotation Estimate is valid for thirty (30) calendar days from the date of issue. Beyond this period, rates may be revised to reflect current market conditions in South Korea Seoul.
• The Auditor shall maintain strict independence and objectivity in accordance with the KICPA Code of Ethics. No non-audit services that would impair independence shall be performed for the client during the audit period.
• All work papers, draft reports, and confidential data obtained during the Auditor engagement shall be retained for a minimum of ten (10) years in compliance with the Korean Commercial Act and FSS record-keeping requirements applicable in South Korea Seoul.
• The client agrees to provide timely access to all financial records, ledgers, bank statements, contracts, and personnel files necessary for the Auditor to complete the engagement as described in this Quotation Estimate.
• Any additional services beyond the scope defined herein shall be subject to a separate supplementary Quotation Estimate and written approval by both parties.
• Governing law: This Quotation Estimate and the resulting Auditor engagement shall be governed by the laws of the Republic of Korea. Disputes shall be resolved by the Seoul District Court or by arbitration at the Korean Commercial Arbitration Board (KCAB) in South Korea Seoul.

This Quotation Estimate assumes that the client's fiscal year-end is 31 December 2024 and that the Auditor will have unrestricted access to all relevant records no later than 15 January 2025. The estimate excludes forensic investigation, litigation support, valuation of intangible assets, and any services related to foreign subsidiaries outside of South Korea Seoul. Should the Auditor identify material misstatements requiring expanded procedures, additional fees will be quoted separately.

By signing below, both parties acknowledge and accept the terms, scope, and pricing set forth in this Quotation Estimate for the Auditor engagement to be performed in South Korea Seoul.