Terms and Conditions

I acknowledge and agree that as part of the on-going quality control initiatives of Chartered Accountants New Zealand Australia, files relating to assignments completed on my/our behalf may be examined on a random test basis by an official reviewer appointed by the Institute for that purpose.

Compilation Services

We will compile the Financial Statements from information provided by you, in accordance with the Compilation Engagement Standards issue by the Chartered Accountants Australia New Zealand. We will provide a disclaimer to be attached to the Financial Statements. Our compilation services will not result in the expression of an audit or review opinion or provide any other form of assurance on the Financial Statements.

It is understood that;

  1. a) You will provide us with accurate and complete information to compile such statements;
  2. b) The responsibility for the accuracy and completeness of the assertions in the Financial Statements remains with you;
  3. c) You will attach our disclaimer when distributing the Financial Statements to third parties;
  4. d) The Financial Statements for a Company or Trust will be prepared in accordance with generally accepted accounting principles; which includes Statements of Standard Accounting Practice and Financial Reporting Standards, unless the company is an exempt Company as defined by the Financial Reporting Act 1993;
  5. e) The Financial Statement for a sole trader/partnership will be prepared on a Special Purpose Reporting basis to comply only with the requirements of the Income Tax Act 1994;
  6. f) You accept responsibility for all records and information supplied to us;
  7. g) You accept responsibility for any failure to supply us with all relevant records and information; and
  8. h) If you distribute the Financial Statements to any person without attaching to them our statement disclaiming liability, then you will indemnify us against all claims, actions, damages, liabilities, costs and expenses (including but not limited to reasonable legal costs and expenses) incurred by us and arising out of or in connection with any action, claim or proceeding brought by any third part in connection with the services provided by us to you.

Taxation Services

We will prepare tax returns for the client as agreed. It is understood and agreed that;

  1. a) We will be responsible for the checking of tax assessments to the returns as filed;
  2. b) We will endeavour to advise of amounts and due dates of tax instalments payable. However, the responsibility for paying the correct amount of tax and paying on time remains with you, and not with us as your agents;
  3. c) Any penalties that may arise from late filing, incorrect estimates or for any reason are payable by you as the taxpayer;
  4. d) You accept responsibility for any failure to supply us with all relevant records and information that might result in the Inland Revenue Department reassessment of the returns as filed;
  5. e) Our maximum liability for services rendered under this letter of engagement shall be limited to the fees paid to us for the work that we have provided by way of taxation services, notwithstanding the basis upon which the action is taken against you the client. We shall not be liable for consequential, special, incidental or exemplary loss, damage or expense including without limitation, loss of profits or opportunities, notwithstanding whether we have been advised of their existence; and
  6. f) You shall indemnify and hold both us and our employees from any claims, liabilities, costs (including the costs of professional advisors and also including our fees) that are brought against us or any of our employees that arise out of the taxation services provided by us under this letter of engagement except to the extent that we or our employees have been grossly negligent of have been guilty of wilful misconduct.

Other Services

We will provide you with other or specialist services on request and terms agreed.

Xero subscriptions are able to be on-charged by Outside Accounting Limited as part of standard monthly packages, or as a separate charge. As a Gold Partner, Outside Accounting Limited receives a 25% discount on all Xero Standard Subscriptions. Where Xero subscriptions are on-charged separately of a standard monthly package;

– Xero Partner Subscriptions are on-charged at cost;

– Xero Standard Subscriptions are on-charged at a 15% discount on the standard Xero price.

Invoices

Invoices are rendered by Outside Accounting Limited on a monthly basis for payment by direct debit. I/We acknowledge the undertaking to pay all amounts by due date and accept liability for all costs incurred in collecting overdue accounts. These costs may include but are not limited to interest, legal recovery costs, costs of reminder letters and court costs.

In signing your Authority to Act form contained in our proposal, you are deemed to have accepted the above terms and conditions. Should you not agree with any of the above terms, you should contact our office immediately.