Terms of Engagement

Scope

The scope of the engagement will include services and advice in relation to accounting, taxation and financial matters and will exclude financial advice and service requiring an Australian Financial Services Licence. The scope of the engagement will be limited to services included in an accepted fixed price quotation, or other services as agreed in writing from time to time.

We consider that we have the necessary skills and expertise to perform the services covered by the engagement.

Reliance on your financial data

Our engagement does not extend to the audit of the financial data you provide to us. As such, we will rely on and process the financial data without any review of the source documents and, in doing so, we will assume you have all the necessary supporting documentation. If the financial data you provide to us is inaccurate or incomplete, or is unsupportable, this may result in adverse consequences for which we shall not be responsible. Although we will adopt generally accepted accounting procedures to process the financial data we will express no opinion on whether the financial statements and other financial information produced by us, presents a true and fair view.

Your rights and obligations under taxation laws

You have certain rights under the taxation laws, including the right to seek a private ruling from the Australian Taxation Office or to appeal or object against a decision made by the Commissioner. If relevant, we will provide further information to you concerning your rights under the Australian taxation laws during the term of this engagement.

It is your obligation to provide us with all information that you reasonably expect will be necessary to allow me to perform work contemplated under this engagement within a timely manner or as requested. This includes providing accurate and complete responses to questions asked of you. Inaccurate, incomplete or late information could have a material effect on our services and/or our conclusions.

You also have certain obligations under the Australian taxation laws, such as the obligation to keep proper records and the obligation to lodge returns by the due date.

Our obligation to comply with the law

We have a duty to act in your best interests. However, the duty to act in your best interests is subject to an overriding obligation to comply with the law even if that may require us to act in a manner that may be contrary to your interests. For example, we could not lodge an income tax return for you that we knew to be false in a material respect.

We also have an obligation to ensure that we manage conflicts of interest as they arise. In this regard, we have arrangements in place to ensure that we manage potential or actual conflicts of interest. The effective operation of these arrangements depends, in part, on you complying with your obligation to disclose any potential conflicts of interest to me.

Unless otherwise stated, our obligations are based on the Australian tax law in force and the practice of the Australian Taxation Office applicable as at the date of this letter.

Our advice and/or services will be based on Australian taxation law in force at the date of the provision of the advice and/or services. It is your responsibility to seek updated advice if you intend to rely on our advice at a later stage. We note that Australian taxation laws are often subject to frequent change and our advice will not be updated unless specifically requested by you at the time of the change in law or announced change in law.

Confidentiality and Data Protection

Personal information collected by us in the course of our dealings with you will be handled in accordance with this engagement letter and our privacy policy, available at https://old.alliedaccountants.com.au/privacy-policy (Privacy Policy).

The purpose of collecting your personal information is to carry out our services and for related purposes such as staff training and education, updating and enhancing our client records, analysis for management purposes, statutory returns, legal and regulatory compliance.

We will use and disclose personal information as set out in our Privacy Policy.

Information you provide to us will be kept strictly confidential. Access will be provided to our employees, contractors and service providers to enable us to deliver our services to you. Your information may be stored and/or accessed by our employees, contractors, service providers and software providers both inside and outside of Australia.

Our files may be subject to review as part of the quality control review program of Chartered Accountants Australia and New Zealand which monitors its members’ compliance with professional standards. By accepting our engagement you acknowledge that, if requested, our files relating to this engagement will be made available under this program.

Very occasionally, we may also be required to disclose confidential information by law, regulatory bodies, insurers or otherwise in accordance with APES 110 Code of Ethics for Professional Accountants.

Where you share personal information regarding a third party (including your directors and employees) with us, you confirm that you have complied with your obligations under the Privacy Act 1998 (Cth) (including, if you are not bound by that Act, as if you were so bound), including that the personal information was lawfully collected, that you are entitled to disclose the personal information to us, and that we may use and disclose the personal information in the manner detailed above.

Our primary form of client communication is by email. In accepting this engagement, you authorise us to communicate with yourself and trusted third parties by email and acknowledge that such communication may include your personal information, including your Tax File Number.

Professional fees

Professional fees will generally be charged at a fixed rate, as quoted, on a per project or monthly retainer basis. Professional fees for services outside the scope of a fixed quotation will be charged at an hourly rate in line with the following table noting that specific rates may vary based on the individual’s skills and experience.

Partner	$380	Intermediate	$160
Manager	$280	Graduate	$120
Senior	$220	Bookkeeper	$80

Fees for periodic or reoccurring services (monthly, quarterly or annually) may automatically roll into the subsequent period at an adjusted rate.
Fees may be adjusted due to changes in volume of work or changes in the cost of delivering services to you. We will advise you of any fee adjustments that are likely to exceed 10% of the previous fee.

Disbursements

At times it may be necessary to pay disbursements on your behalf, w will attempt to seek your authority prior to making any payment on your behalf. Disbursements incurred on your behalf or for your benefit will be disclosed on our invoices and are to be reimbursed. Disbursements may include such things as charges for software, legal and/or other opinions, and other expenses incurred in carrying out the engagement. We will use our best endeavours to keep the disbursements to a minimum. You will be entitled to the input tax credits (if any) referable to the disbursements that are incurred.

Payment of accounts

A valid tax invoice will be issued for each payment obligation arising under this engagement. Invoices may be issued at the commencement or completion of each project, at times as agreed, or at other times we deem appropriate. Invoices will include professional fees, GST and disbursements. Payment of these invoices is due no later than seven days from the date of issue unless otherwise agreed. You will be jointly and separately liable to pay our invoices (noting that superannuation funds will not be liable for fees relating to other entities).

Should you have any queries relating to an invoice, please raise them with us within seven days of receiving the invoice.

Unpaid accounts

In the event that invoices are not paid when due, we may elect:

• not to do any further work for you until all unpaid accounts are paid in full;
• to retain custody of any of your papers, documents or files until all unpaid accounts are paid in full; and
• to charge interest at the rate prescribed under the Penalty Interest Rates Act 1983 (Vic) on any amount outstanding one month after the date on which the account is given to you and until payment is made.

Termination of engagement

You may terminate the engagement, at your discretion, at any time. We may terminate the engagement if, in our reasonable view, our working relationship is unsatisfactory or if you breach any of the terms of the engagement.

On termination of services paid on a monthly retainer basis, a termination fee equal to two months service fees will apply. This fee covers finalisation and transfer of records and archiving of files. We will store any records we hold for at least the minimum statutory period.

Termination will not prejudice the antecedent rights of either party or negate your obligations to us which accrue up to your termination.

Definitions

In this letter a reference to “I” or “we” means Allied Business Accountants, Allied Business Accountants Pty Ltd, Allied Accountants Pty Ltd, Allied International Services Pty Ltd, David McKellar and any other entities involved in carrying on the business of Allied Business Accountants from time to time. Reference to “you” means you, any related companies, trusts, and persons, and any other entities for whom I do any work at the request of any of them.