What Taiwan boards usually ask before signing an audit engagement letter
Independence, timing, and who owns the draft statements — the questions that save weeks later.
Boards in Taipei often treat the engagement letter as a formality. It is not. The letter sets materiality discussions, deliverable dates, and who prepares the draft financial statements.
Ask who will confirm bank balances and how long confirmations typically take with your banks. Late confirmations are a common reason year-end reports slip past planned board meetings.
Clarify whether the auditor will comment on draft disclosures before the closing meeting. Waiting until the final week for disclosure wording creates avoidable pressure on the finance team.
Independence matters beyond the fee. If the same firm also keeps the books, the board should understand which services are off-limits for that audit year.
Finally, agree how findings will be communicated — a single closing meeting, or interim notes as fieldwork progresses. Mid-market companies usually prefer early warnings on cut-off and inventory issues.