12. Matters that would be included in the engagement letter include the following:
• A listing of the procedures to be performed as agreed upon between the parties.
• A statement that the distribution of the report of factual findings would be restricted to the specified parties who have agreed to the procedures to be performed.
In addition, the auditor may consider attaching to the engagement letter a draft of the type of report of factual findings that will be issued. An example of an engagement letter appears in Appendix 1 to this ISRS.