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Bookkeeping Engagement Letter Template for Nigeria

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Key Requirements PROMPT example:

Bookkeeping Engagement Letter

"I need a Bookkeeping Engagement Letter for my tech startup in Lagos, Nigeria, with special emphasis on remote bookkeeping services and cryptocurrency transaction recording, to commence from January 2025."

Document background
The Bookkeeping Engagement Letter is a crucial document used in Nigerian business practice when establishing a formal relationship between a bookkeeping service provider and their client. This document is essential for compliance with Nigerian financial regulations, including the Financial Reporting Council of Nigeria Act and CAMA 2020. It is typically used at the commencement of a new bookkeeping engagement or when updating terms with existing clients. The letter comprehensively outlines the scope of services, deliverables, professional fees, responsibilities of both parties, confidentiality obligations, and terms of engagement. It provides legal protection for both parties and ensures clear communication of expectations while maintaining compliance with local professional standards and regulations.
Suggested Sections

1. Letterhead and Date: Professional letterhead with firm's details and current date

2. Client Address: Full business name and address of the client

3. Salutation: Professional greeting addressing the appropriate client representative

4. Introduction: Opening paragraph confirming the engagement and thanking the client for choosing the firm

5. Scope of Services: Detailed description of bookkeeping services to be provided, including specific tasks and deliverables

6. Client Responsibilities: Clear outline of what the client needs to provide and their obligations

7. Professional Fees: Fee structure, payment terms, and billing frequency

8. Timeline and Deadlines: Expected timeframes for service delivery and any critical deadlines

9. Confidentiality: Commitment to maintaining client confidentiality and data protection

10. Professional Standards: Reference to applicable professional standards and regulatory compliance

11. Limitation of Liability: Clear statement of the firm's liability limitations

12. Termination Provisions: Conditions and process for ending the engagement

13. Acceptance: Space for signatures and acceptance of terms

Optional Sections

1. Additional Services: Description of supplementary services available, used when client might need extra services beyond basic bookkeeping

2. Third-Party Access: Terms for sharing information with third parties, included when other professionals (e.g., tax advisors) need access to records

3. Remote Work Arrangements: Specific provisions for remote bookkeeping services, used when services are provided virtually

4. Staff Assignment: Details of specific team members assigned to the client, included for larger engagements

5. Dispute Resolution: Specific procedures for handling disagreements, included for higher-value engagements

6. Insurance Coverage: Details of professional indemnity insurance, included when required by client or regulation

Suggested Schedules

1. Schedule A - Detailed Service Description: Comprehensive list of specific bookkeeping tasks and frequency

2. Schedule B - Fee Schedule: Detailed breakdown of fees for different services and payment terms

3. Schedule C - Required Documentation: List of documents and information the client needs to provide

4. Appendix 1 - Data Protection Protocols: Detailed procedures for handling and protecting client data

5. Appendix 2 - Software and Systems: Information about accounting software and systems to be used

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses



























Relevant Industries

Professional Services

Retail

Manufacturing

Technology

Healthcare

Construction

Real Estate

Hospitality

Agriculture

Education

Non-Profit Organizations

Financial Services

Transportation

Energy

Mining

Relevant Teams

Finance

Accounting

Operations

Management

Administration

Compliance

Legal

Tax

Audit

Treasury

Relevant Roles

Chief Financial Officer

Finance Director

Financial Controller

Bookkeeper

Accountant

Finance Manager

Business Owner

Managing Director

Company Secretary

Accounts Assistant

Financial Analyst

Audit Manager

Tax Manager

Operations Manager

Small Business Owner

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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