Engagement letter
mc25
Registered Posts: 232 Dedicated contributor π¦
Just to clarify with those who have experience on this really. If you have a client who you do only book keeping for and they have an accountant who sorts out their year end accounts do we still have to issue them with letter of Engagements?
Thanks
Thanks
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I got no experience with it, but I don't think you have to. I would advice to use it anyways, or maybe in a shorter/ slightly different form, so it can act as a contract between you and the company and you still got it on paper!
However, that's just my opinion, as I said, I don't have experience with it.
Cheers,
Rinske0 -
do we still have to issue them with letter of Engagements?
"have to" is 'only' an issue of best practice anyway.
It's advisable to have a LoE for all clients, to avoid any doubt in what you are and are not doing for them.0 -
Hmm, I think it is a little more than 'best practice'..
"252.1 Members in practice are expected to agree an engagement letter for each client. The purpose
of such a letter is to provide written confirmation of the work to be undertaken and the extent of
the memberβs responsibilities."0 -
deanshepherd wrote: Β»Hmm, I think it is a little more than 'best practice'..
"252.1 Members in practice are expected to agree an engagement letter for each client. The purpose
of such a letter is to provide written confirmation of the work to be undertaken and the extent of
the memberβs responsibilities."
Whoops.
Too much to do today, don't know what I was thinking!
We're in the process of updating all of ours, I HATE doing them but they are a good job done.0 -
yes agreed last time we had an inspection we were told we HAD to have LOE's for ALL live and future clients0
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yes agreed last time we had an inspection we were told we HAD to have LOE's for ALL live and future clients
As an aside, do AAT do inspections? I know ICAEW do practice assurance visits etc.
We've been using Feb and Mar as a quiet period to update all our admin stuff, its SUCH a big job! It'll be great when all the systems are in place but getting them there is a mission.0 -
Thanks
Thank you all for your replies.0 -
As an aside, do AAT do inspections? I know ICAEW do practice assurance visit
Yeah thats what we had a couple of years ago. Whatever association your with i thought it came under the money laundering laws that you had a have a LOE
Where doing archiving at the momment a good chance to go through the files and get them upto date.0 -
The link just goes to an advert. Can't see any actual template on there.0
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I think you need to pay to have access to that part of the site...deanshepherd wrote: Β»The link just goes to an advert. Can't see any actual template on there.0 -
the unit 32 ozborne book has a copy of one in the back0
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help4u, if you dont mind can you send me a copy too. will pm you my add0
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interested
help4u, if you dont mind can you send me a copy too. will pm you my add0 -
I never got a reply..
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