Final answer:
The AICPA requires an engagement letter for all litigation services provided by a forensic accountant.
Step-by-step explanation:
True, the AICPA does require an engagement letter for all litigation services provided by a forensic accountant. An engagement letter is a written agreement between the accountant and the client that outlines the scope of work, fees, responsibilities, and other important details.
By requiring an engagement letter, the AICPA aims to establish a clear understanding between the accountant and the client, ensure professionalism, and mitigate potential disputes or misunderstandings during the engagement.
For example, in a litigation support engagement, the engagement letter might include details about the purpose of the engagement, the specific services to be provided (such as assisting with the analysis of financial records or calculating damages), and the expected deliverables.