Engagement Letter For Accounting Services Template for Philippines

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Key Requirements PROMPT example:

Engagement Letter For Accounting Services

"I need an Engagement Letter for Accounting Services for my small retail business in Manila, covering basic bookkeeping and tax filing services starting March 2025, with monthly fees not exceeding 25,000 PHP."

Document background
The Engagement Letter For Accounting Services is a crucial document used in the Philippine business environment to formally establish a professional relationship between an accounting service provider and their client. This document is required when initiating any professional accounting engagement and must comply with the Philippine Accountancy Act of 2004, the Civil Code of the Philippines, and professional standards set by regulatory bodies. It serves multiple purposes including defining the scope of services, establishing fee arrangements, setting professional obligations, and ensuring compliance with local regulations such as data privacy and anti-money laundering laws. The letter protects both parties by clearly documenting expectations, deliverables, and limitations of the engagement while adhering to Philippine legal requirements and professional standards.
Suggested Sections

1. Letter Header: Professional letterhead, date, client name and address

2. Salutation: Formal greeting to the appropriate client representative

3. Introduction: Opening paragraph expressing appreciation for the opportunity and confirming the engagement

4. Scope of Services: Detailed description of the accounting services to be provided, including specific deliverables

5. Professional Standards: Statement of commitment to professional standards and regulatory compliance

6. Client Responsibilities: Clear outline of what is expected from the client, including information provision and cooperation

7. Fees and Payment Terms: Detailed explanation of fee structure, billing arrangements, and payment terms

8. Timeline and Deliverables: Expected timeframes for service delivery and specific outputs

9. Confidentiality and Data Privacy: Commitments regarding information security and compliance with privacy laws

10. Limitation of Liability: Clear statement of professional liability limitations and disclaimers

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

12. Acceptance and Authorization: Signature blocks and instructions for indicating agreement to the terms

Optional Sections

1. Team Structure: Description of key team members and their roles, recommended for larger engagements

2. Additional Services: Overview of other available services not included in the current scope, useful for potential upselling

3. Quality Control: Description of firm's quality control procedures, important for larger clients or regulated industries

4. Dispute Resolution: Specific procedures for handling disagreements, recommended for high-value engagements

5. Insurance Coverage: Details of professional indemnity insurance, relevant for high-risk engagements

6. Communication Protocols: Specific procedures for client communication and reporting, useful for complex engagements

Suggested Schedules

1. Schedule A - Detailed Scope of Services: Comprehensive breakdown of specific services and deliverables

2. Schedule B - Fee Schedule: Detailed breakdown of fees, rates, and payment terms

3. Schedule C - Required Documentation: List of documents and information required from the client

4. Appendix 1 - Standard Terms and Conditions: Firm's standard terms and conditions for professional services

5. Appendix 2 - Data Privacy Statement: Detailed privacy policy and data handling procedures

6. Appendix 3 - Service Level Agreement: Specific performance metrics and service standards

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

Financial Services

Manufacturing

Retail

Technology

Healthcare

Real Estate

Construction

Professional Services

Hospitality

Education

Non-Profit Organizations

Agriculture

Mining

Telecommunications

Transportation and Logistics

Energy and Utilities

Relevant Teams

Finance

Accounting

Audit

Tax

Treasury

Compliance

Legal

Operations

Executive Management

Administration

Risk Management

Corporate Governance

Relevant Roles

Chief Financial Officer

Financial Controller

Accounting Manager

Finance Director

Business Owner

Managing Partner

Audit Partner

Tax Partner

Company Secretary

Chief Executive Officer

Finance Manager

Accountant

Compliance Officer

Treasury Manager

Financial Analyst

Business Manager

Operations Director

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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