Audit Terms of Service
1. Introduction & Acceptance
These Audit Terms of Service ("Terms") govern the engagement between Aevum Zenth Conglomerate, operating through its Assurance & Risk Advisory division ("Auditor", "we", "us"), and the entity seeking audit services ("Client", "you"). By initiating, scheduling, or accepting audit services, the Client agrees to be bound by these Terms. If this engagement is on behalf of an organization, you represent that you have the authority to bind that organization to these Terms.
Aevum Zenth provides independent audit, assurance, and advisory services across financial, operational, compliance, and technological domains. These services are delivered in accordance with applicable professional standards, regulatory requirements, and internationally recognized auditing frameworks.
2. Scope of Audit Services
The scope of services will be defined in a mutually executed Engagement Letter or Statement of Work ("SOW"). Typical services include, but are not limited to:
- Statutory financial statement audits and reviews
- Internal control assessments (SOX, ISO 27001, COSO)
- IT governance, cybersecurity, and data integrity audits
- Regulatory compliance and ESG/sustainability assurance
- Operational efficiency and forensic accounting investigations
Audits are conducted on a sampling basis where applicable. Findings reflect the period, systems, and data provided at the time of the engagement. Aevum Zenth does not guarantee the detection of all irregularities, fraud, or errors unless explicitly warranted in writing.
3. Client Responsibilities
The Client agrees to provide timely, accurate, and complete access to all personnel, records, systems, facilities, and third-party data reasonably required to perform the audit. Specific obligations include:
- Designating a primary liaison with decision-making authority
- Providing unrestricted access to requested documents and IT environments
- Certifying that financial records and operational data are complete and authentic
- Cooperating with interview requests and management representation letters
- Implementing agreed-upon corrective actions within defined remediation windows
Failure to provide adequate access or cooperation may result in scope modification, qualified opinions, or engagement termination.
4. Engagement & Deliverables
Aevum Zenth will deliver all reports, workpapers, and findings in accordance with the agreed timeline. Standard deliverables include:
- Preliminary findings report within 10 business days of fieldwork completion
- Draft audit report with management recommendations
- Final signed report with auditor's opinion and compliance attestations
- Digital workpaper repository access (retained for 7 years per regulatory standards)
Timelines are subject to Client responsiveness and data availability. Delays attributable to the Client will proportionally extend delivery schedules without penalty to the Auditor.
5. Fees & Payment Terms
Fees are structured per the Engagement Letter and may include fixed project rates, time-and-materials billing, or retainer arrangements. Expenses such as travel, third-party data acquisition, or specialized software licensing will be billed at cost or pre-approved rates.
Invoices are issued monthly or upon milestone completion. Payment is due within 30 days of invoice date. Late payments may incur interest at 1.5% per month or the maximum rate permitted by law, whichever is lower. The Auditor reserves the right to suspend services for accounts exceeding 45 days past due.
6. Confidentiality & Data Security
Both parties agree to maintain strict confidentiality regarding proprietary information, trade secrets, financial data, and audit findings. Information will be used solely for the purpose of this engagement and will not be disclosed to third parties without prior written consent, except as required by law or regulatory authority.
Aevum Zenth implements enterprise-grade encryption, access controls, and secure data processing environments compliant with ISO 27001, GDPR, CCPA, and applicable data sovereignty laws. Upon engagement completion, Client data will be securely archived or destroyed per agreed retention policies.
7. Liability & Indemnification
Except in cases of gross negligence, willful misconduct, or fraud, Aevum Zenth's total liability under this engagement shall not exceed the total fees paid by the Client for the specific service giving rise to the claim. The Auditor shall not be liable for indirect, incidental, consequential, or punitive damages, including loss of revenue or business interruption.
The Client agrees to indemnify, defend, and hold harmless Aevum Zenth, its subsidiaries, officers, and personnel from any third-party claims, fines, or losses arising from inaccurate data provided by the Client, unauthorized access to Client systems, or breach of these Terms by the Client.
8. Dispute Resolution & Governing Law
Any dispute arising from these Terms shall first be addressed through good-faith negotiation between senior executives. If unresolved within 30 days, disputes shall be settled by binding arbitration administered by the International Chamber of Commerce (ICC) in accordance with its rules. The arbitration shall take place in Geneva, Switzerland, and proceedings shall be conducted in English.
These Terms shall be governed by and construed in accordance with the laws of Switzerland, without regard to its conflict of law principles. The United Nations Convention on Contracts for the International Sale of Goods shall not apply.
9. Termination
Either party may terminate this engagement with 30 days written notice. The Client may terminate immediately for material breach by the Auditor that remains uncured after 15 days of notice. The Auditor may terminate immediately if the Client fails to provide necessary access, compromises audit independence, or engages in illegal activities.
Upon termination, the Client shall pay for all services rendered and expenses incurred up to the termination date. Provisions regarding confidentiality, liability, indemnification, and dispute resolution shall survive termination.
10. Amendments & Notices
Aevum Zenth reserves the right to amend these Terms to reflect changes in regulations, auditing standards, or business operations. Material amendments will be communicated at least 30 days prior to effectiveness. Continued engagement after the effective date constitutes acceptance of revised Terms.
All formal notices shall be sent to the registered addresses or designated legal email portals specified in the Engagement Letter. Notices are deemed delivered upon confirmed receipt or 48 hours after dispatch via certified electronic means.
11. Contact Information
For questions regarding these Terms, engagement execution, or compliance inquiries, contact the Aevum Zenth Legal & Compliance Department:
- Email: legal@aevumzenth.com
- Mail: Aevum Zenth Conglomerate, Legal Affairs Division, Zenth Tower, Neo Geneva, CH-1202
- Phone: +41 22 900 0000 (Audit Services Line)
By accessing audit services or executing an Engagement Letter, the Client acknowledges reading, understanding, and agreeing to these Audit Terms of Service.