We have a client who is required to have an audit however they do not have the funds to pay for our audit services.
What is the procedure for this predicament? Should we resign?
Any answers would be welcome!
Replies (4)
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Why do they need the audit?
The first question is why are they required to have an audit?
The seconds is are you prepared to be paid in installments?
The third is: can they do more to be ready for your audit work so that you can reduce the time spent and so the cost?
The forth is can you get someone else to do the audit part of the job at a cost cheaper than you - although you run the rick of loosing the client
Fifth, how much do you want this client? Is it work taking a "loss" on the job to keep them for other things
Sixth, if they can't pay for this work, what can they pay for, are they a going concern?
In otherwords, to answer you question, we are going to need to know more.
Steve
You can always resign
If you know you are not going to be paid and don't care about losing the client now or for the future, you can always resign. Issue a disengagement letter telling them where everythings up to and walk away. They won't like it, but its your right to do it.
Steve