Letter of Engagement

Financial Statements & Tax Services

 

Thank you for instructing us to act as your Accountant and business adviser. To ensure that there are no misunderstandings regarding the nature and extent of the services that we will provide to you, this contract outlines the scope of work.

 

Terms of Contract

 

On the basis of the information and instructions you provide, we will compile any required financial statements for your firm.

 

The services to be provided will include all matters ancillary to those services, such as, for example, dealing with and responding to queries raised by the IRS or other taxation authorities.

 

This letter of engagement will apply in respect of your financial year end and for future years unless otherwise agreed.

 

Extent of Services

 

We will not audit, review, or carry out any other checks on the accuracy or completeness of the information you provide. It is up to you to give us accurate and complete information to enable us to provide the services described in this letter, and we accept no liability for the accuracy or completeness of any information supplied by you in any form.

 

Accordingly, no assurance on any assertions contained in the financial information compiled will be provided.

 

Our engagement does not include the investigation or discovery of internal control weaknesses, errors, illegal acts or other irregularities, including, without limitation, fraud, or non-compliance with laws and regulations. However, we will inform you of any such matters that come to our attention during the course of our engagement.

 

The information you are to supply and any other information that we consider necessary to complete the engagement must be provided in a timely manner in order for the assignment to be completed on a timely basis.

 

Financial Information Use and Distribution

 

We understand that the intended use and distribution of the financial information we will compile is for the special purposes of management reporting and of calculating income tax. If this should change in any material respect, you will inform us immediately.

 

You may make copies of any reports for your own internal use or to provide them to a third party. However, we accept no duty or responsibility to any party other than yourself who may seek to rely on our reports. Furthermore, you indemnify us against any claim by such other party in respect of the reports.

 

 

Information and Disclosure

 

All assignments will be conducted in accordance with the professional standards, rules, and ethical requirements of Circular 230. Information we obtain in the course of this engagement is subject to confidentiality requirements. We will not disclose that information to other parties without your express consent, except as required by law or professional obligations.

 

Limitation of Liability

 

At all times, we will use reasonable skill and care in providing our services to you. However, in spite of this, our liability to you, whether in contract, tort, equity or otherwise, for any loss or damage or expenses (including legal costs) suffered or incurred directly by you as a direct result of any act or omission by us in providing our services, shall be limited to a maximum amount equal to the fee (excluding tax, disbursements and expenses) paid to us by you in respect of the services in question. If the services were provided in respect of more than one financial year, the basis on which the liability amount is based shall be the fee paid in respect of the financial year in which the act or omission occurred. Any claim against us must be brought within twelve months of the date on which we complete the services.

 

Fees and Payment

 

Unless otherwise agreed with you in writing, our fees are calculated on the basis of the time spent on the assignment by our team and on the levels of skill and responsibility involved.

 

If required by you, we will provide you with either an estimate, or firm quotation, of the fees involved prior to commencing an assignment.

 

Our invoices will generally be issued on a monthly basis, and all invoices will be due for payment on the 1st of the month following the invoice date. We reserve the right to charge interest on overdue amounts at a maximum rate of 15% per annum.

 

You should be aware that, like all other providers of services, we are entitled to retain possession of your records that have been used in relation to this engagement until outstanding fees are settled.

 

Ownership of Work Papers

 

Material that you provide to us remains yours and will be returned to you when the engagement is completed. The work papers that we create remain our property.

 

Where we provide taxation services for you, we will store tax records that we hold on your behalf for a period of seven years after the applicable balance date. At the end of that period, unless you ask us to send that information to you, the records will be destroyed using a secure document destruction service.

If you have not selected to e-file your returns with our office, you will be soley responsible to file the returns with the appropriate taxing authorities. Review all tax-return documents carefully before signing them.

 

Non-accounting advice and financial advice

 

This firm does not provide legal or financial advice. Any opinion expressed should be confirmed by the appropriate professional. Any comment made on the subject of legal or investment matters should be interpreted as only a personal view and not professional advice.

 

Future Years

 

This letter applies for future years unless you or we wish to end or change the arrangement.

 

Conclusion

 

If you have any questions regarding this letter of engagement, please do not hesitate to call us. 910.821.1515

 

In order to signify your acceptance of the terms of engagement, please continue signing up in Tax Dome. 

 

We appreciate your business and thank you for engaging us.

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Individual Payment for Engagement Agreement 

 

A payment of $100 is non-refundable towards your Year Individual Tax return. This amount will be credited towards your final amount due, which, depending on this year's tax circumstances, could be higher than this minimum payment and will be invoiced at the signing of your finalized tax return.

 

Business Payment for Engagement Agreement 

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A payment of $250 is non-refundable towards your Year Business Entity Tax return. This amount will be credited towards your final amount due, which, depending on this year's tax circumstances, could be higher than this minimum payment and will be invoiced at the signing of your finalized tax return.

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