Dear Client,
Further to our discussions of
06/17/2026,
we accept your appointment to prepare a financial report & Tax Return for “COMAPNY NAME”. This document outlines our engagement terms, and any additions will be mutually agreed upon and documented in writing.
We kindly request your consent for us to act as your Tax Agents and access your business information from the ATO/ASIC portal. Additionally, we would manage any matters with ATO/ASIC on your behalf as needed or upon your request.
Objective and Scope of the Compilation Engagement
We will assist you in preparing and presenting the following financial statements for “COMAPNY NAME” for the years ending 30 June 2025, including the statement of financial position, profit or loss, changes in equity, cash flows, and explanatory notes.
The financial statements will show “COMAPNY NAME”’s financial position as of 30 June 2025 & 2023-2024 and its performance for the year. These statements are solely for your use and not for other parties.
Our Responsibilities
We apply accounting expertise to assist you in preparing and presenting financial information. As this is not an assurance engagement, we will not verify the reliability, accuracy, or completeness of the information you provide.
We follow APES 315 Compilation of Financial Information, adhering to ethical standards set by APES 110 Code of Ethics for Professional Accountants.
Your Responsibilities
You acknowledge that we assist in preparing and presenting financial statements based on your chosen reporting framework. You are responsible for:
(a) Ensuring the financial information meets applicable reporting standards.
(b) Providing reliable, accurate, and complete accounting records.
(c) Making necessary judgments in financial statement preparation.
Our Compilation Report
We will issue a report describing the compiled financial statements and our work. The use and distribution of these statements are limited to the purpose outlined in this engagement letter.
Professional Fees and Payments
Fees are based on time and skill required, including expenses and charges. Our rates are GST-inclusive and charged in 6-minute blocks for work less than an hour
Estimates
Fees are based on reasonable estimates, and the actual cost may vary. Providing an accurate estimate of the total cost is not always possible, as it can change due to unforeseen issues and delays, the involvement of third parties, and incomplete documentation. If costs are expected to be significantly higher than initially estimated, we will issue an additional letter of engagement outlining the reasons for the anticipated increase..
Terms of payment
Unless otherwise agreed, payment terms are 14 days from the invoice date. We will provide an itemised account of fees and costs upon request. If payment is not received by the due date, we may use a debt collection agency or legal means to recover outstanding fees
Documnets
Drafts will be sent for approval before lodging documents with relevant authorities. Timely submission of information ensures due date compliance; late submissions will be managed on a best-effort basis but may incur penalties.
Ownership of documnets
Final documents prepared by Garv Accounting & Taxation Solutions remain your property. Other documents created by us remain our property, though copies can be provided upon request. We may exercise a lien over materials or records until fees are paid.
Quality Review
As members of the Institute of Public Accountants (IPA), we are subject to the IPA’s Quality Review Program. By accepting our engagement, you consent to your files being part of a QRP review if requested by IPA.
Professional Standards Scheme
We are part of the IPA Professional Standards Scheme, limiting our liability under professional standards legislation. For more information, visit www.psc.gov.au.
Privacy Statement
We adhere to the Privacy Act 1988. Breaches should be reported to the Privacy Commissioner. Your file may be reviewed under Quality Review unless you specifically forbid
Third Party Involvement
We may outsource work to third parties, always seeking your approval first. Client data is securely stored in cloud systems like Xero. Third-party liability is excluded from this engagement unless fraud or non-excludable legal liabilities arise.
Yours faithfully,
Gaurav Kumar Arora
Public Accountant
M. No: 185401
