Accounting Retainer Agreement Template for Singapore

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Key Requirements PROMPT example:

Accounting Retainer Agreement

"Need an Accounting Retainer Agreement for my Singapore-based tech startup, including monthly bookkeeping services and quarterly financial reporting, with a focus on maintaining ACRA compliance and managing our Series A investment reporting from March 2025."

What is a Accounting Retainer Agreement?

The Accounting Retainer Agreement is essential for businesses seeking regular accounting services in Singapore. This document formalizes the professional relationship between accounting firms and their clients, outlining service scope, fees, and obligations while ensuring compliance with Singapore's regulatory framework. It's particularly relevant for businesses requiring ongoing financial management, tax compliance, and reporting services, providing clarity on deliverables and protecting both parties' interests under Singapore law.

What sections should be included in a Accounting Retainer Agreement?

1. Parties: Identification of the accounting firm and client with their full legal names, registration numbers, and addresses

2. Background: Context of the engagement and purpose of the retainer agreement

3. Definitions: Key terms used throughout the agreement including specific accounting terminology

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

5. Fees and Payment Terms: Retainer amount, billing schedule, payment conditions and methods

6. Term and Termination: Duration of agreement and circumstances under which either party may terminate

7. Confidentiality: Obligations regarding protection and handling of client information

What sections are optional to include in a Accounting Retainer Agreement?

1. Professional Indemnity: Liability limitations and professional insurance provisions for high-value or complex engagements

2. Force Majeure: Provisions for unforeseen circumstances affecting service delivery

3. Non-Solicitation: Restrictions on hiring firm's employees and other non-solicitation provisions

What schedules should be included in a Accounting Retainer Agreement?

1. Schedule A - Detailed Services: Comprehensive breakdown of specific accounting services covered under the retainer

2. Schedule B - Fee Schedule: Detailed pricing structure, additional charges, and payment terms

3. Schedule C - Service Level Agreement: Performance metrics, response times, and service standards

4. Schedule D - Key Personnel: List of main team members assigned to the client's account

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

Industries

Accountants Act (Chapter 2): Primary legislation governing the accounting profession in Singapore, including registration and regulation of public accountants

Companies Act (Chapter 50): Fundamental legislation governing corporate entities in Singapore, including requirements for corporate accounting and financial reporting

Income Tax Act: Legislation governing taxation matters in Singapore, relevant for accounting services and tax advisory

Goods and Services Tax Act: Legislation governing GST in Singapore, crucial for accounting services related to tax compliance

Professional Service Providers Act: Legislation governing professional service providers, including accounting firms

Singapore Standards on Quality Management (SSQM): Professional standards establishing quality management requirements for accounting firms

Singapore Standards on Auditing (SSA): Professional standards setting requirements for conducting audits in Singapore

Code of Professional Conduct and Ethics: Ethical guidelines and professional conduct requirements for public accountants and accounting entities

ACRA Regulations: Regulatory requirements set by the Accounting and Corporate Regulatory Authority

ISCA Requirements: Professional requirements established by the Institute of Singapore Chartered Accountants

Singapore Financial Reporting Standards: Standards governing financial reporting requirements in Singapore

Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data

Contract Law of Singapore: Common law principles governing formation and enforcement of contracts in Singapore

Electronic Transactions Act: Legislation governing electronic transactions and digital signatures

Anti-Money Laundering Regulations: Including the Corruption, Drug Trafficking and Other Serious Crimes Act and guidelines on preventing money laundering and terrorism financing

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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