Document background
The Engagement Letter Accounting is a fundamental document required by Australian accounting standards and professional regulations to formally establish a professional service relationship between an accounting firm and its client. This document is mandated by the Tax Practitioners Board and professional accounting bodies in Australia, and must be in place before commencing any significant accounting services. It typically includes detailed information about service scope, fees, timelines, responsibilities, and professional obligations, while ensuring compliance with Australian regulations such as the Corporations Act 2001 and relevant accounting standards. The engagement letter serves as both a legal protection and a clear communication tool, helping prevent misunderstandings about service expectations and deliverables.
