New MIP - Bit stuck!

KatieJ
KatieJ Registered Posts: 2 New contributor ?
Hello,

I have recently become a MIP and have been searching for a template for a letter of engagement, I have downloaded the AAT example but have found that it is very detailed whereas at the moment I am really only carrying out general book keeping and Vat Returns and payroll. Also it mentions Limited assurance engagement as mandatory to be included in an engagement letter and not really sure what this is?

Would anybody know of a link or example of a template letter which would be more appropriate. I have looked at older posts from other members regarding this subject but the information/links seem to have expired.

I realise I can take out the irrelevant parts of the AAT example letter but it would mean changing it entirely as it is written from a 'we' perspective and its only me!

Would very much appreciate any help.

Thank you

Comments

  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 ? ? ?
    Just take the stock one and take out the bits that aren't relative. Don't worry about 'we,' its normal language for these things even if it's only you.

    The Eng Letter is sadly, a long letter. It protects you, so you don't want to shorten it too much.

    I don't actually know what Limited assurance engagement is! My Eng Letter is from an AAT template so I assume it's got it in there?!?!?!?!

    Ok so I googled it:
    "Limited Assurance is when no opinion is given and just the obvious errors etc are luked upon and the systems are not checked.. eg in the financial statements review..here the level of assurance is low"

    I think the way the Appendices are worded include this. You can just delete the appendices that don't apply to you e.g. corporation tax etc.

    My engagement letter is 2 pages of letter and then as many appendices as are appropriate.
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    I agree with Jenni.

    This is what I have done and have then made it so I have four different engagement letters. One for Tax Return only, One for Sole Traders, One for Partnerships and One for Ltd Co's. I then only have the appendices that apply and tweak them to the specific circumstances of the client.

    Mine are actually currently 4 pages plus appendices.
    Regards,

    Burg
  • KatieJ
    KatieJ Registered Posts: 2 New contributor ?
    Many thanks for your advice, will give it a go! Much appreciated.
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