Terms and conditions of a compilation engagement
Below are the standard terms and conditions under which we (Hounsell Accounting Ltd) prepare financial statements and tax returns for you (our client). By accepting these terms and conditions you will agree to the following”
- Hounsell Accounting Ltd will undertake any engagement or assignment in accordance with professional engagement standards published by Chartered Accountants Australia and New Zealand.
- You accept responsibility for the accuracy and completeness of information supplied to Hounsell Accounting Ltd, which is to be used in the preparation of financial statements and tax returns.
- You accept responsibility for all other records and information supplied to Hounsell Accounting Ltd, and for any failure to supply any relevant records or information
- You understand that the financial statements and / or tax returns are prepared by Hounsell Accounting Ltd for you use only, and as such Hounsell Accounting Ltd accepts no responsibility to any other persons for the contents of the financial statements. If accounts are required for any other purpose, you will inform us of this.
- If the financial statements are shown to a third party, you undertake to ensure that our Compilation Report is included.
- You understand that our compilation services will not result in the expression of an audit or review opinion or provide any other form of assurance on the financial statements
- You understand that a compilation engagement cannot be relied upon to detect error or fraud.
- You give Hounsell Accounting Ltd full authority to contact any organization via any means, including telephone, written correspondence or internet access, for the purpose of obtaining information that is necessary to complete the financial statements and / or tax returns. This includes banks, solicitors, the Inland Revenue Department, the Accident Compensation Corporations and all other government agencies. You acknowledge that this information would not normally be available due to privacy restrictions.
- You give Hounsell Accounting Ltd full authority to access and change information with Inland Revenue for all tax types. This may be undertaken by telephone, in writing or via internet access.
- You give Hounsell Accounting Ltd full authority to access and change information with Accident Compensation Corporation. This may be undertaken by telephone, in writing or via internet access.
- You give Hounsell Accounting Ltd full authority to represent you as your tax agents with Inland Revenue.
- If deemed desirable, you give Hounsell Accounting Ltd full authority to sign tax returns on your behalf.
- Unless otherwise agreed, our work will be charged on a time and materials basis. We may invoice periodically as work progresses. Payment is due no later than the 20th day of the month following invoice.