Auditing - What is a Termination Letter

The video tutorial explains the purpose and contents of a termination letter between an auditor and a client. It highlights the importance of this legal document in defining the end of the professional relationship and outlines what should be included, such as willingness to share audit documentation, handling reissuance of past reports, and specifying fees for future needs. The video also advises on including reasons for termination and the potential sharing of the letter with future auditors.

What kind of fees might be described in the termination letter?

Why is it important for the auditor to include a statement on the reasons for termination?