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Thank you for choosing our firm to provide your accounting services.

We set out below our understanding of the terms of the engagement.

Purpose and Scope of Engagement.

The purpose of the engagement is only for the preparation for you of:

– Taxation returns;
– BAS & IAS Statements (where applicable);
– Annual or periodic financial statements (where applicable).

Before any necessary documentation is lodged by us on your behalf, we will forward draft documentation for approval. We shall endeavour to ensure that the documentation is lodged with the relevant department by the due dates, provided all information and documentation is received by such specific dates to be advised to you to allow us adequate time for preparation and lodgement of the documentation.

Responsibility for Accounting and Internal Control Systems.

We advise that the responsibility for the maintenance of your accounting system and internal control systems will rest with you/your business, including the protection of and prevention of fraud.

Prudential Audit.

We undertake the work on the basis that no statutory audit of your financial statements will be required. If any statutory audit is required it is your responsibility to notify us. We will process the financial information as presented to us without any review of the primary source documents being undertaken by us, on the specific understanding that you have the necessary supporting documentation to satisfy the Australian Taxation Office. We will not express an opinion as to the truth and fairness of those financial statements and our usual form of disclaimer will be attached to the financial statements.


We note that we are not engaged to review the accuracy of any previous returns lodged by you, including that of the Directors/shareholders/beneficiaries and that you have warranted that we are entitled to rely on the balance sheet(s) and other financial records as presented to us.

Ownership of Documents.

The final financial statements, tax returns and any other documents which we are specifically engaged to prepare, together with any original documents given to us by you, shall be your property. Any other documents brought into existence by us including general journals, working papers and general ledger, draft financial statements and copies of tax returns, will remain our property at all times. Your file in respect of any particular financial year will be destroyed 5 years after expiry of that financial year.

Lien on Document.

In relation to any subsequent termination of our services, you are advised that we shall be entitled to retain all documents belonging to you and any related parties we act for until payment in full of any outstanding amounts due to us.

Substantiation Requirements.

In relation to your income tax return(s), we will advise you as to the requirements of the substantiation provisions of the legislation (where applicable) and of the necessity to maintain acceptable bona fide receipts and other documents such as travel diaries and log books, as required. It remains your obligation to comply with those requirements.

Provided Unless specifically Requested.

We advise that we will not be providing any services or advice in the following areas unless specifically requested by the entity:

(a) accounting and management services:
(b) taxation planning;
(c) estate planning;
(d) business acquisitions including sale and purchase considerations;
(e) sales tax legislation;
(f) payroll tax legislation;
(g) fringe benefits tax;
(h) capital gains tax;
(i) WorkCover legislation;
(j) Training Guarantee legislation where applicable;
(k) Superannuation Guarantee Levy;
(l) the stamping of documents;
(m) Social Security legislation;
(n) any other state or federal tax legislation, including duties; and
(o) lodgment of any other documents not noted in this engagement brief.
If you require any services or advice in any of the above areas, please advise us in writing.

Professional Fees and Payment.

Our professional fees for the services provided to you will be based on the time and degree of skill and acumen required to complete the tasks undertaken by us, including any direct out-of-pocket expenses. You are required to pay GST on our account.
Accounts for services provided will be forwarded you monthly for payment as work in progress. Payment is required within fourteen (14) days unless special alternate arrangements are made with us. Late payment fee will be charged on overdue accounts at $5.50 per month and if it is necessary for us to take debt recovery action then you will be responsible for all collection costs incurred by us. You authorise us to apply any taxation refund to which you may be entitled to payment of amounts due to us.


This engagement will terminate when we have completed the work you have engaged us to do and our account has been paid. We may also terminate the engagement and suspend any further work including the lodgment of returns if our account is not paid, or if any information necessary in our view for the proper completion of our work and which we have requested is not provided by you. You acknowledge that non-lodgment or late lodgment of tax returns usually results in the imposition of penalties, interest charges, and fines and release us from any liability if that occurs by reason of the matters set out above.

Directors’ Guarantee of Payment.

If the client is a company then it is our requirement that the shareholder and/or directors of the company guarantee the payment of all accounts for professional fees, including out-of-pocket expenses rendered by us from time to time to the company as set out in the form of guarantee on the attached duplicate letter.

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