Document background
An Audit Proposal is a formal document used when an audit firm proposes to provide statutory or voluntary audit services to a potential client in Austria. It serves as the foundation for the audit engagement and must comply with strict regulatory requirements under Austrian law, including the UGB (Commercial Code) and WTBG (Professional Code for Auditors). The document is typically prepared when companies need to appoint new auditors, during tender processes, or when rotating auditors as required by law. The Audit Proposal includes comprehensive details about the audit approach, team structure, timelines, and fees, while incorporating mandatory elements such as independence declarations, quality assurance commitments, and data protection provisions. It forms the basis for subsequent audit engagement letters if accepted by the client.
