ClDirections: Complete this template by replacing the bracketed text with the relevant information. Date: May 11, 2023 To: Mr. Jamal Mack, President LSB Enterprises From: [XYZ & Co.] Subject: Audit Engagement Letter of Acceptance You have requested that we audit the balance sheet of [company name] as of [month/day/year] and the related statements of income and cash flows for the year then ending. We are pleased to confirm our acceptance and our understanding of this engagement using this letter. [Scope of the audit] [Type of report] [Auditors responsibilities and terms] [Managements responsibilities and terms] [Estimated fee schedule] ient engagment letter Directions Begin by reading Appendix C from PCAOB found in the Supporting Materials section. You will then use the Client Engagement Notes provided in Supporting Materials to fill in the client engagement letter. Specifically, you must address each section of the client engagement letter using the following rubric criteria: Describe the scope of the audit objective. Identify the type of report to be issued. Explain the auditor's responsibilities and terms for this agreement. Explain managements responsibilities and terms for this agreement. Explain the estimated fee schedule.