Engagement Terms & Conditions
Appendix One – Standard Terms and Condition
The general terms and conditions in relation to our engagement are set out below. These terms and conditions form part of and should be read in conjunction with this Letter of Engagement.
1. Intended use and distribution of documents
Our documentation is not to be reproduced or used for any purpose other than that outlined above, without our prior written consent. We will not be liable for any loss, nor assume any responsibility for losses incurred by you or any other party as a result of the circulation, reproduction or use of our documentation, other than for which it is intended. Accordingly, we disclaim responsibility to any person, other than the Group who uses our reports, for any purpose other than for which it is prepared or if any officer or director of the Group quotes any part of our documentation out of context without regard to the qualifications expressed herein.
2. Information to be provided by Client
We will correspond with you prior to providing our services. This correspondence will identify the information required to complete the engagement. In signing this correspondence, we also ask you to advise us the specific names and positions of persons authorised to provide us with instructions in relation to this engagement.
3. Reliance on Information
You acknowledge that it is your responsibility to provide PLC with complete and accurate information in accordance with our timing requirements. We will be entitled to rely on the information provided by the Group or its advisers. If anything comes to our attention to indicate that the information provided was materially misstated or we would not on reasonable grounds have reason to rely on the information as a basis for our engagement we will notify you accordingly. We will not, in undertaking our services, conduct an audit nor independently verify the correctness, existence or value of any item in the financial reports or information supplied.
4. Confidentiality
PLC acknowledges that it is our responsibility to keep confidential all aspects of this engagement, and we will not disclose any information, whether written or verbal to any party other than those you authorise us to contact or otherwise as required by law.
Notwithstanding this confidentiality clause, we reserve the right to provide your financial documentation to other businesses directly associated with PLC.
Our files may be subject to review as part of the quality control review program of the Institute of Chartered Accountants who monitor compliance with professional standards by its members. We advise you that, by signing this letter, you acknowledge that, if requested, our files relating to this engagement will be made available under these programs.
5. Third Party Engagement
Should we determine that the services of a third party are required to complete our engagement, we will seek your written confirmation prior to engaging such services.
6. Ownership of Documents
PLC will be provided with documentation by you under this engagement, which shall remain the property of the Group. Any files, workpapers, calculations, explanatory notes, minutes, articles, emails etc. created by PLC during this engagement shall remain the sole property of PLC. Please note PLC reserves the right to exercise a right of lien over documentation you provide to us during this engagement, in the event of a dispute or in the event of non-payment of our fees.
7. Conflict of Interest
We are not aware of any conflict of interest either in relation to PLC or the individual professional staff to be involved in this engagement, which would impact on our ability to provide an independent and professional service.
8. Limitation of Liability
Our liability is limited by a scheme approved under Professional Standards Legislation. Further information on the scheme is available from the Professional Standards Councils’ website: psc.gov.au.
9. Termination
It is understood that you or PLC may terminate this agreement at any time and any unpaid services that are outstanding at the date of termination are payable in full within 14 days.
10. Privacy, Tax File Numbers and Personal Information
Information or documents provided by you are dealt with in accordance with the PLC’s Privacy Policy. A copy of this policy is available at plcgroup.com.au/privacy-policy
