Accounting Retainer Agreement Template for Canada

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Key Requirements PROMPT example:

Accounting Retainer Agreement

I need an Accounting Retainer Agreement for my small retail business in Ontario, with monthly bookkeeping and quarterly tax preparation services, starting January 2025, with an initial term of one year and automatic renewal options.

Document background
The Accounting Retainer Agreement is a crucial document used when establishing an ongoing professional relationship between an accounting firm and a client in Canada. This agreement is particularly relevant when clients require regular, recurring accounting services rather than one-off engagements. The document complies with provincial accounting regulations, federal privacy laws, and professional standards set by Canadian accounting bodies. It typically includes comprehensive details about service scope, fee structures, professional obligations, confidentiality requirements, and liability provisions. The agreement is designed to protect both parties' interests while ensuring transparency in the professional relationship and compliance with Canadian legal and professional requirements.
Suggested Sections

1. Parties: Identification of the accounting firm and the client, including full legal names and addresses

2. Background: Context of the agreement and brief description of the parties' intention to enter into an accounting services arrangement

3. Definitions: Key terms used throughout the agreement defined for clarity and consistency

4. Scope of Services: Detailed description of the accounting services to be provided under the retainer

5. Term and Renewal: Duration of the agreement and conditions for renewal

6. Fees and Payment Terms: Retainer amount, billing rates, payment schedule, and related financial terms

7. Professional Standards: Commitment to follow relevant accounting standards and professional requirements

8. Confidentiality: Obligations regarding client information protection and confidentiality

9. Client Responsibilities: Client's obligations in providing information and cooperation

10. Record Retention: Terms for maintaining and storing financial records and documents

11. Termination: Conditions and process for ending the agreement

12. Limitation of Liability: Extent and limitations of the accounting firm's liability

13. General Provisions: Standard legal clauses including governing law, amendments, and notices

Optional Sections

1. Electronic Communications: Terms regarding the use of email and other electronic communications, recommended when services will be delivered remotely

2. Dispute Resolution: Specific procedures for handling disagreements, recommended for high-value or complex engagements

3. Non-Solicitation: Restrictions on hiring firm personnel, useful for larger client relationships

4. Force Majeure: Provisions for unforeseen circumstances, particularly relevant post-COVID

5. Third-Party Service Providers: Terms regarding the use of external specialists or software, needed when third-party services are part of the engagement

6. Intellectual Property: Protection of proprietary methods or software, relevant when using firm-specific tools or methodologies

Suggested Schedules

1. Schedule A - Detailed Service Description: Comprehensive list and description of specific accounting services covered under the retainer

2. Schedule B - Fee Schedule: Detailed breakdown of fees, hourly rates, and any additional charges

3. Schedule C - Service Level Standards: Specific performance metrics and response times for services

4. Appendix 1 - Required Documentation: List of documents and information the client must provide

5. Appendix 2 - Key Personnel: List of key team members and their roles in providing services

6. Appendix 3 - Software and Systems: Details of any specific accounting software or systems to be used

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 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

Financial Services

Small Business

Corporate Services

Non-Profit Organizations

Healthcare

Manufacturing

Technology

Retail

Construction

Real Estate

Education

Relevant Teams

Finance

Accounting

Legal

Compliance

Procurement

Executive Leadership

Tax

Audit

Treasury

Risk Management

Relevant Roles

Chief Financial Officer

Controller

Finance Director

Accountant

Tax Manager

Audit Manager

Business Owner

Managing Partner

Finance Manager

Compliance Officer

Financial Analyst

Bookkeeper

Treasury Manager

CEO

Small Business Owner

Legal Counsel

Procurement Manager

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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