Terms and Conditions

 Thank you for selecting us to conduct your professional accounting needs. We look forward to working with you. We realise how important it is to understand your needs and we have prepared these Terms of Engagement (TE) to clarify the scope of work and other important terms. It is important that you read these TE before you indicate that you agree, which you can do by letting us know that you are happy to proceed. The scope of work may fall within the CPA Australia Ltd Professional Standards (Accountants) Scheme (Scheme), which facilitates improvements to industry professional standards and protects consumers. Accordingly, we need to notify you of the following:

“Liability limited by a scheme approved under Professional Standards Legislation.”

If you want more information on the Scheme you can go to: https://www.cpaaustralia.com.au/about-us/consumer-information or https://www.psc.gov.au/consumer-informationAlternatively, if you want to clarify anything in the TE please call us on 1300 JRD ACC.

 1. Purpose

This Terms of Engagement for Public Accounting Services (TE) confirms our understanding of the engagement and the nature and limitations of services provided.

2. Term

2.1 This TE will commence at the time you indicate acceptance and will continue until revoked by us or you. 

3. Objectives and Scope of work

3.1 We will provide you with professional accounting services in compliance with APES Standard 110 Code of Ethics (Code), 

3.2 We will provide you with the following accounting reports, Business Activity Statement submission reports, Financial Statement Reports, Taxation Return submission report, Audit & Assurance Report, Valuation Report.

3.3 We will provide the scope of work output within the specified timeframe or within a reasonable period considering the context of the services.

3.4 Unless otherwise specified in this TE or letter of engagement, audit and assurance or review are not included in this engagement.

4. Our Promise 

4.1 We will perform procedures (guided by the APES suite of standards) required that are directly related to the engagement consistent with our Fundamental Principles of integrity, objectivity, professional competence and due care, confidentiality, professional behaviour, and identifying, avoiding and dealing with conflicts of interests.

4.2 We will seek to understand your requirements and provide you services confidentially and professionally. 

4.3 We will document sufficient and appropriate records of the procedures performed for the TE, which may be subject to the CPA Best Practice Program under APES 320 Quality Control for Firms.

5. Our obligations

5.1 We are obliged to consider whether our clients create any threats to compliance with our Fundamental Principles and where we cannot reduce the risk to an acceptable level we are obliged to cease the TE under the Code (section 320) to decline or cease the client engagement.

5.2 We have a duty to act in your best interests, unless this duty is inconsistent with our duty to act in the public interest.

5.3 We are responsible for maintaining records for a period of at least five-year unless otherwise required by legislation.

6. Your obligations

6.1 You are responsible for full disclosure of all relevant information.

6.2 You are responsible for your own record keeping relating to your affairs. 

6.3 You provided us with complete records relating to your affairs.

6.4 You are responsible for the reliability, accuracy and completeness of the particulars and information provided to us, 

6.5 You are responsible for retaining paperwork for as long as legally required.

7. Third Party Involvement

7.1 In providing our services to you, we utilise Cloud Computing. 

7.2 Acceptance of our services in conjunction with this engagement document indicates your acceptance of the use of these services as described above.

8. Fees, Billing& Trust Monies

8.1 Our professional fees will be calculated on a fixed fee, which will be specified in the letter of engagement. If no method is specified, our fees will be calculated on a time-cost basis.

8.2 Our invoices may also include disbursements paid by us. These may include photocopying charges, telephone and facsimile transmission charges, travel fares and expenses, stamp duty and fees paid to third parties such as couriers, registration fees or fees for other professionals. These may be in addition to the fixed price (if applicable).

8.3 Unless other payment terms are agreed, each invoice is payable within 7 days of receipt.

9. Ownership of materials

9.1 You own all original materials given to us. 

9.2 We own all materials produced by us that resulted from our skill and attention to the extent that the materials produced by us incorporate any original materials you give to us.

9.3 We may exercise a lien of your documents in our possession in the event of a dispute, which will be handled in accordance with our firm’s dispute resolution process.

9.4 Subject to the payment of all outstanding professional fees and disbursements owing to us, we will provide you with materials produced by us for you in the event you engage the services of another practitioner and the materials are required by your new practitioner.

10. Privacy 

10.1 Our collection use and disclosure of your personal information (PI) may be subject to our privacy policy which is available on our website.

11. Confidentiality

11.1 We have an ethical duty of confidentiality, which means we must not share or disclose your details of this TE to anyone, except as otherwise specified in this clause, without your consent unless required to by law.

11.2 We may disclose details and records of the services provided to you to CPA Australia Ltd, (if requested) for the purposes of conducting a CPA Australia Best Practice Program assessment aimed at maintaining high industry professional standards.

11.3 When using cloud computing, we only store client information in data server managed in Australia, which is subject to Australian privacy law.

12. Professional Indemnity Insurance (PII)

12.1 We hold professional indemnity insurance of at least the minimum amount prescribed in the CPA Australia Ltd By-Laws or as required by law. 

13. Professional Standards Scheme & Limitation of Liability

13.1 We participate in the CPA Australia Ltd Professional Standards Scheme (Scheme), which facilitates the improvement of professional standards to protect consumers and may limit our liability to you in a cause of action. 

13.2 The Scheme applies to professional accounting services including accounting, bookkeeping, taxation, auditing and assurance, insolvency and corporate reconstruction, management accounting, management consulting, forensic accounting, valuation services.

14. Website Purchases

14.1  A purchase on our website does not indicate our acceptance of the engagement. All clients our subject to our client screening process and should we decide to decline the engagement a refund will be offered.

14.2 Through the course of the engagement we may request further information and declarations. 

14.3 Should we decide that the engagement cannot be completed due to the failure of you to provide requested information, providing incomplete or inaccurate information, or failure to sign and return requested declarations, we may terminate the engagement and a refund may not be offered.

14.4 Additional fees may apply to rental properties, investments, capital gains tax events, international dealings, complex matters, the use of accounting software other than Xero or Quickbooks, or in our opinion matters requiring further work,  research or clarification. Should this be the case we will contact you for your authority to proceed.