Terms of Engagement

The below is to confirm our understanding of the terms of our engagement and the nature and limitations of the services that we provide.

Purpose, Scope and Output of the Engagement

This firm will provide accounting, taxation and corporate secretarial services, which will be conducted in accordance with the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB). The extent of our procedures and services will be limited exclusively for this purpose only. As a result, no audit or review will be performed and, accordingly, no assurance will be expressed. Our engagement cannot be relied upon to disclose irregularities including fraud, other illegal acts and errors that may exist. However, we will inform you of any such matters that come to our attention.

The financial report and/or tax return will be prepared for the agreed purpose. There is no assumption of responsibility for any reliance on our report by any person or entity other than yourself. The report shall not be inferred or used for any purpose other than for which it was specifically prepared. Accordingly, our report may include a disclaimer to this effect.

Responsibilities

In conducting this engagement, information acquired by us in the course of the engagement is subject to strict confidentiality requirements. That information will not be disclosed by us to other parties except as required or allowed for by law, or with your express consent.

We wish to draw your attention to our firm’s system of quality control which has been established and maintained in accordance with the relevant APESB standard. As a result, our files may be subject to review as part of the quality control review program of Chartered Accountants Australia and New Zealand which monitors compliance with professional standards by its members. We advise you that by accepting our engagement you acknowledge that, if requested, our files relating to this engagement will be made available under this program. Should this occur, we will advise you.

Clients are required to arrange for reasonable access by us to relevant individuals and documents, and shall be responsible for both the completeness and accuracy of the information supplied to us.

Staff

Kevin Tang will be the main contact in providing services to you. To ensure our services are carried out as efficiently and effectively as positive, other staff may be involved with your engagement where appropriate.

Fees

The fee arrangement is based on the expected amount of time and the level of staff required to complete the accountancy, taxation and corporate secretarial services as agreed. Unless a fixed fee has been provided, the fee will be on a time-cost basis.

Where a fixed fee has been agreed upon, it will increase by 5% each year, unless stated otherwise.

Limitation of Liability

Our liability is limited by a scheme approved under Professional Standards Legislation. Further information on the scheme is available from the Professional Standards Councils’ website: http://www.professionalstandardscouncil.gov.au.

Ownership of Documents

All original documents obtained from the client arising from the engagement shall remain the property of the client. However, we reserve the right to make a reasonable number of copies of the original documents for our records.

Our engagement will result in the production of documents such as income tax returns and financial statements. Ownership of these documents will vest in you. All other documents produced by us in respect of this engagement will remain the property of the firm.

Confirmation of Terms

Acceptance of our services indicates you understand and accept the arrangements. These terms will be effective for future years unless updated on this website.

I look forward to working with you.

Kevin Tang
Director