top of page

Business Engagement Terms

Business Engagement Terms

Business Engagement Terms

As your Accountant/ Tax Agent/BAS Agent we will act in your best interest at all times and provide the highest level of professional service. This document sets out the terms of the engagement. Any additions will be by the written agreement of both parties.

As your Accountant/ Tax Agent/BAS Agent we will:

1. analyse, discuss and prepare recommendations regarding your accounting records and financial affairs;

2. prepare financial and other statements as requested;

3. prepare and lodge taxation returns, review assessments and advise on appeal procedures where necessary; and

4. undertake other work as agreed.

You are reminded that:

1. performance of our tasks is limited exclusively to those set out in this engagement letter;

2. We do not (unless otherwise engaged to do so) undertake an audit or review, and as such no assurance will be expressed; and

3. unless we are otherwise engaged to do so, this engagement cannot be relied upon to detect or otherwise disclose irregularities (such as fraud, illegalities or the errors of other parties).

We are bound by the APES 110 Code of Ethics for Professional Accountants (including Independence Standards), and pursuant to the Responding to Non-Compliance with Laws and Regulations (NOCLAR) requirements, the Accountant is required to report any non-compliance with laws and regulations or acts of omission or commission, intentional or unintentional by a client or by those charged with governance, by management or by other individuals working for or under the direction of a client which are contrary to the prevailing laws or regulations.

Estimates

Fees are based on reasonable estimates and actual costs may vary from time to time due to unforeseeable problems and delays, the cooperation of third persons and deficiencies in documentation. If costs are likely to be significantly higher than originally estimated, you will be informed in writing of the changes and reasons.

Deduction of Fees from refund cheque

If it is agreed that fees will be deducted directly from any tax refund you receive. In accordance with professional standards requirements, your refund will be deposited into our Trust Account with our professional fees deducted and the balance of the funds forwarded to you as agreed.

Terms of Payment

A full account of professional fees, costs and disbursements will be provided. Unless otherwise agreed, terms are strictly 7 days from the date of invoice. Should the account be unpaid by the due date, we reserve the right to use a debt collection agency or other legal means to recover outstanding fees.

Card Processing Fee

A 1.95% card processing fee will be added to all payments made to us using credit or debit cards. This fee will be passed on to you and will appear on invoice emails and payment receipts. This fee is set to cover the costs associated with processing card payments. Alternatively, you can opt to pay via bank account. Bank account payments are processed free of charge.

Disclosure of other fees and commissions

We will disclose to clients any commissions or other fees received as a result of work undertaken and will fully comply with statutory requirements on the disclosure of this information.

Documents

Before documentation is lodged on your behalf, drafts will be forwarded for your approval. Documentation will be lodged with the relevant departments/authorities by the due date(s), provided all information and documentation is received promptly after the financial year end or other statutory date(s). This will allow adequate time for preparation and lodgement.

If you are late in providing information, best efforts will be made to meet the due dates. No responsibility will be accepted for any late lodgement penalties incurred.

Responsibility for Accounting and Internal Control Systems

The responsibility for the maintenance of a business accounting system and internal control systems, including protection against and prevention of fraud, rest with you the client. You will also be responsible for the maintenance of books of account. This includes any work produced by a third party not engaged by this firm that is to be relied upon. If any material weakness in the accounting system or internal control systems comes to our notice, you will be advised accordingly.

It is important to remember you are personally responsible for the information contained in any statutory return and that you must retain all necessary supporting documentation to substantiate transactions.

Quality Review Program

As a member of the IPA, we are subject to the IPA's Quality Review Program (QRP) mandated by the International Federation of Accountants. QRP assesses member compliance with the professional and ethical standards and by accepting our engagement you acknowledge that, if requested by the IPA, our files relating to this engagement may be made available for QRP review. Unless otherwise advised, you are consenting to your files being part of a QRP.

Professional Standards Scheme

As a member of the IPA, we are part of the IPA Professional Standards Scheme and our liability is limited by a Scheme approved under Professional Standards Legislation. For more information on the IPA Professional Standards Scheme or Professional Standards Schemes generally, please refer to: www.psc.gov.au.

Privacy Statement

We are bound by the provisions of the Privacy Act 1988 to maintain all your records securely and in accordance with the provisions of that Act. Any breach of these requirements should be notified to the Privacy Commissioner. As noted above under "Quality Review Program", your file, unless you specifically forbid it, may be subject to a QRP review. As a Tax Agent, we are subject to the code of professional conduct established by the Tax Agent Services Act 2009 (TASA), this Code requires that unless legally required to we cannot disclose information to a third party without your permission.

Third Party Involvement

At times we may outsource some of our work which involves us entering into an agreement with a third party to provide specific processes, functions, services or activities for us.  If we decide to do this as part of performing the services for you, we will contact you first to seek your approval to engage other parties.

We have outsourcing arrangements with Intogreat Solutions Pty Ltd in Sandringham, Victoria whom we engage from time to time to assist us. The nature and extent of the service we utilise are income tax preparation.

Cloud Computing Services:

In providing our services to you, we utilise cloud computing systems, for more information on these, please refer to our website: https://www.mtse.com.au/cloudcomputing.

This engagement is a contract between you and us, and you agree that none of the third parties we use will have any liability to you and you will not bring any claim or proceedings of any nature in connection with this engagement against any third party that we may use to provide the services.  This exclusion will not apply to any liability, claim or proceeding founded on an allegation of fraud or other liability that cannot be excluded under law.

Ownership of Documents

The final documents to be prepared under this engagement, together with any other original documents, shall remain your property. Documents prepared under this engagement, including general journals, working papers, the general ledger, and draft financial statements, remain the firm's property at all times. However, the firm will always provide you with copies of any documents you require.

Lien over Documents

If permitted by law, we may exercise a lien over all materials or records in our possession to all engagements for you until all outstanding fees and disbursements are paid in full.

Agreed Services

Only the services which are listed in the attached schedules are included within the scope of our instructions.

If there is additional work (outside of occasional ad hoc advisory or consulting) that you wish us to carry out which is not listed in the schedule, any additional work will be quoted to you before the commencement of said additional work. Once the scope of the additional work is agreed upon, we will issue an additional or updated letter of engagement via our online proposal system, and will ask you to sign the new agreement before we commence the new work.

Furthermore, we agree that if an unanticipated need arises (such as an audit, an amended tax return or a personal financial statement required as part of a loan agreement), this additional work will be performed only after arriving at a mutually agreed-upon price and a Change of Service Request is accepted with a digital signature.

Ad hoc advisory or consulting

The occasional request for ad hoc advisory or consulting completed outside of this agreement may be completed without a new proposal being sent and may be charged at $250 per hour plus GST.

Monthly Billing

If you opt into monthly billing, this is considered a fixed fee contract based on the agreed services and levels at that time. If we deem the level of service has changed, we may change the fixed fee charged. No refunds will be issued on the ending of this agreement at any time.

Client's disclosure and record keeping obligations

You are required by law to keep full and accurate records relating to your tax affairs. It is your obligation to provide us with all information that are reasonably expected as necessary to allow us to perform work contemplated under the engagement within a timely manner or as requested. This includes providing accurate and complete responses to questions asked of client by the practitioner. Inaccurate, incomplete or late information could have a material effect on services and/or conclusions.

We need not verify the underlying accuracy or completeness of information from you if it appears reasonable. However, if we believe information is missing, incorrect or misleading, we will need to seek further assurance from you.

The Taxation Administration Act 1953 now contains specific provisions that may provide you with "safe harbour" from administrative penalties for incorrect or late lodgement of returns. These safe harbour provisions will only be available to you if, amongst other things, you provide "all relevant taxation information" to us in a timely manner. Accordingly, it is to your advantage that all relevant information is disclosed to us, as any failure by you to provide this information may affect your ability to rely on the "safe harbour" provisions and will be taken into account in determining the extent to which tax practitioners have discharged their obligations to clients. It is your responsibility to show that you have brought all matters to our attention if you want to take advantage of the safe harbours created under new regime.

Client's rights and obligations under the taxation laws

Taxpayers have certain rights under the taxation laws, including the right to seek a private ruling from the ATO or to appeal or object against a decision made by the Commissioner. Taxpayers also have certain obligations under Australian taxation laws, such as the obligation to keep proper records and the obligation to lodge returns by the due date. We must keep you informed of any specific rights and obligations that may arise under Australian taxation laws.

Tax Practitioners obligation to comply with the law

We have a duty to act in our client's best interests. However, the duty to act in our client's 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 directions. For example, we could not lodge an income tax return that we believe to be false in a material respect.

Previous Returns

It is noted that we are not engaged to review the accuracy of previous returns lodged by your organisation including that of the Principals, Partners, Trustees, Directors, Shareholders or Beneficiaries. You have warranted that reliance can be placed on the financial statements and other financial records presented by you for this purpose.

Information we are required to Disclose to You

As a Tax Agent our work for you is performed in accordance with the Tax Agent Services Act 2009. Under this Act, the Tax Agent Services (Code of Professional Conduct) Determination 2024 requires that we make the following disclosures to you:

Matters that could significantly influence your decision to engage us (or continue to engage us) for a Tax Agent Service from 1 July 2022 onward include the following:
- None applicable

The Tax Practitioner's Board maintains a register of Tax Agents and BAS Agents. You can access and search this register here: https://www.tpb.gov.au/public-register

If you have a complaint about our Tax Agent services, you will need to contact your Accountant in the first instance with details by email. If they are unable to resolve your complaint within 3 business days, please contact Kelly Buntine, Managing Director by email. Your complaint will be investigated by Kelly Buntine. We will provide you with email acknowledgement of receipt of your complaint and our understanding of the circumstances. The email will inform you that we will attempt to resolve yur complaint with 14 days and will outline the dispute resolution process. If you are unhappy with the outcome that we propose to you, you can then make a complaint to the Tax Practitioners Board (TPB) using the link listed above. The TPB will send you an email to acknowledge the receipt of your complaint and review and risk assess your complaint. If you are unhappy with how the TPB has dealt with your complaint, the above link includes details about your review rights and who can further assist you.

©2023 by MTSE Accountants & Business Advisors.

Liability limited by a scheme approved under Professional Standards Legislation.

13/39 Commercial Drive, Pakenham. VIC. 3810.

204 Commercial Road, Yarram, VIC. 3971

PO Box 296, Pakenham, Vic 3810

Ph: 03 5922 2018 or 03 5182 5777

Email: admin@mtse.com.au

  • Facebook
  • Instagram
bottom of page