Terms of Engagement
1. Our services
We will provide the services described in your engagement letter, which may include preparation of annual financial statements, income tax and GST returns, bookkeeping, Xero set up and support, business advisory and related work. Any additional services will be agreed in writing and may be subject to additional fees.
Unless expressly stated, our engagement does not include an audit or review of your financial information, and we will not express an assurance opinion. Our work cannot be relied upon to detect fraud, error or illegal acts, although we will tell you if we become aware of any.
2. Your responsibilities
You are responsible for the accuracy and completeness of the information you give us, for keeping proper business records, and for providing information and approvals within the timeframes we ask for so we can meet filing deadlines. You remain responsible for the contents of your tax returns and financial statements even though we prepare them. You agree to tell us promptly about anything that may affect your tax position, including changes in structure, ownership, overseas income or assets.
3. Tax agency and Inland Revenue
By engaging us you authorise us to be linked to your Inland Revenue accounts as your registered tax agent, to obtain information from Inland Revenue, and to file returns and correspond with Inland Revenue on your behalf. As our client you may be entitled to an extension of time for filing income tax returns. Extension of time status depends on your returns being filed on time and can be withdrawn by Inland Revenue if returns are late. We are not responsible for penalties or interest arising from information provided late or incorrectly, or from your failure to make payments when due.
4. Xero and third-party software
Where we set up, access or manage your Xero organisation or other software, you remain the owner of the data and subscription unless otherwise agreed. You are responsible for the software's subscription fees and for complying with its terms of use. We are not liable for the availability, accuracy or security of third-party software.
5. Fees and payment
We quote fees upfront. Fixed fees cover the work described in your engagement letter; work outside that scope, or additional work caused by incomplete records, will be quoted separately before we proceed wherever possible. Fees may be billed monthly or on completion as set out in your engagement letter. Invoices are payable within 14 days unless otherwise agreed. We may charge interest on overdue amounts, suspend work, and recover reasonable collection costs. Fixed monthly fees are reviewed annually.
6. Anti-money laundering obligations
Accountants are reporting entities under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. Before we can act for you, and from time to time afterwards, we must verify your identity and, where relevant, the identity of directors, shareholders, trustees, beneficial owners and anyone acting on your behalf, and we may need to ask about the source of funds or wealth. We cannot start or continue work until this is complete. We may be required to report certain transactions to the Financial Intelligence Unit without telling you.
7. Confidentiality and privacy
We keep your information confidential and use it only to provide our services, except where disclosure is required by law, by our professional body, or authorised by you. Our handling of personal information is described in our Privacy Policy. We may use cloud-based systems, some hosted outside New Zealand, to store and process your information.
8. Ownership of documents
Documents you give us remain your property. Working papers, file notes and drafts we create belong to us. Final deliverables such as financial statements and tax returns belong to you once our fees have been paid. We may retain a copy of your records for our files. To the extent permitted by law, we may hold documents until outstanding fees are paid.
9. Electronic communication
We communicate mainly by email and secure online portals. You accept the risks inherent in electronic communication, including delay, interception and viruses, and agree that we are not liable for loss arising from these unless caused by our negligence. Please tell us if you would prefer certain information not to be sent by email.
10. Professional standards
Our services are provided in accordance with the professional and ethical standards of Chartered Accountants Australia and New Zealand and the applicable standards issued by the New Zealand Auditing and Assurance Standards Board and the External Reporting Board. Financial statements are prepared on the basis set out in the compilation report attached to them.
11. Limitation of liability
Our services are provided for your benefit only. Except where the law prevents it, our total liability to you for any loss arising from our services, whether in contract, tort (including negligence) or otherwise, is limited to [three] times the fees paid for the specific engagement giving rise to the claim. We are not liable for indirect or consequential loss, or for loss caused by incorrect or incomplete information provided to us. Where you acquire our services for business purposes, the Consumer Guarantees Act 1993 does not apply.
12. Complaints
If you are unhappy with any aspect of our service, please raise it with us first so we can put it right. If we cannot resolve it, you may contact Chartered Accountants Australia and New Zealand, whose complaints process is available at charteredaccountantsanz.com.
13. Ending the engagement
Either of us may end the engagement by giving written notice. You will be responsible for fees for work completed up to that date. On request, and once fees are paid, we will provide your records and, where applicable, a handover to your new accountant. We may end the engagement immediately if we have concerns about the accuracy of information provided, conflicts of interest, non-payment, or our AML/CFT obligations.
14. General
These terms are governed by New Zealand law. If any part is unenforceable, the rest continues to apply. We may update these terms from time to time; the current version is published on this page and applies to work performed after the date of change. Your continued instructions after a change constitute acceptance.
15. Contact
BNCA Limited
Kingsland, Auckland, New Zealand
zn.oc.acnb@olleh