Terms & Conditions
Our responsibility is to conduct the compilation in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The objective of a compilation is to assist management in presenting financial information in the form of financial statements.
We will perform the services agreed to in the PRICING & BILLING PRACTICES section for “THE CLIENT” for the respective period(s) then ended. Our engagement cannot be relied upon to disclose errors, fraud, or other illegal acts that may exist. However, we will inform you of any material errors that come to our attention and any fraud or other illegal acts that come to our attention, unless they are inconsequential. In addition, we have no responsibility to identify and communicate significant deficiencies or material weaknesses in your internal controls as part of this engagement, and our engagement cannot be relied upon to disclose the same.
This engagement will remain in effect for the current year and subsequent years thereafter unless canceled as discussed in paragraph one above. We will not audit or review such financial statements. We will not review or evaluate internal controls, confirm receivables or other balances with third parties, or observe a physical inventory. Our services will be limited to presenting in financial statement form information that management represents to us. We will not express an opinion or other form of assurance on such financial statements.
UNFORESEEN EVENTS:
In the normal course of day-to-day operations, unforeseen events may arise which you may require or request our representation or assistance. These events cannot be foreseen or contemplated in advance and are specifically excluded from the scope sections below. Examples include inquiries, penalties, audits, and or correspondence from Local, State, and Federal government agencies such as Miami-Dade County, State of Florida, and Internal Revenue Service respectively, and not limited to these. In addition to governmental agencies, other parties may request information, which may require our involvement if you so desire. The most common sources of these requests come from your bank, mortgage broker when applying for a loan, insurance agents (including workman’s comp audits), an attorney either representing your interest or against, to mention a few. Since these events may or may not come to fruition, we do not add a cost component to cover these contingencies. We will be happy to assist you at our standard hourly rates, which will be disclosed in writing before any work being done.
EXPAND THE SCOPE
If you wish to expand the scope of the engagement, we will be happy to discuss your needs and amended both the scope and fees accordingly. A revised engagement letter will be drafted with desired changes, and the Monthly or Annual Retainer adjusted accordingly. We reserve the right to increase our hourly rates, which may have an impact on our fees as stated on the attached rate sheet, as well as the Monthly Retainer.
INDEMNIFICATION If we are or may be obligated to pay any cost, settlement, judgment, fine, penalty, or similar award or sanction as a result of a claim, investigation, or other proceeding instituted by any third party, then to the extent that such obligation is or maybe a direct or indirect result of your intentional or knowing misrepresentation or provision to us of inaccurate or incomplete information in connection with this engagement, and not any failure on our part to comply with professional standards, you agree to indemnify us, defend us, and hold us harmless as against such obligations.
PRICING & BILLING PRACTICES
Invoices are invoiced in advance and due upon receipt and either debited from a bank account or charged to a debit/credit card and are paid in advance of work on the 1st of each month. In the absence of a written objection to any invoice or service within 30 days of the invoice due date, you will be deemed to have accepted and acknowledged, as correct, the services rendered as described in the invoice and the value thereof.
The are NO REFUNDS
We reserve the right to suspend our services or to withdraw from this engagement if any of our invoices are deemed delinquent. If we elect to terminate our services for nonpayment, or any other reason provided for in this letter, our engagement will be deemed to have been completed upon written notification of termination, even if we have not completed our report. You will be obligated to compensate us for all time expended and to reimburse us for all our out-of-pocket costs, through the date of termination.