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Engagement Letter For Accounting Services
"I need an Engagement Letter for Accounting Services under Saudi law for a manufacturing company, covering monthly bookkeeping and year-end financial statements preparation starting March 2025, with specific provisions for Zakat compliance and SAR reporting."
1. Letter Header: Firm's letterhead, date, client details, and reference number
2. Salutation and Introduction: Formal greeting and introduction of the accounting firm
3. Service Description: Detailed outline of the accounting services to be provided
4. Professional Standards Statement: Declaration of compliance with SOCPA standards and professional requirements
5. Engagement Terms: Key terms including timeline, deliverables, and client responsibilities
6. Fee Structure: Detailed explanation of fees, payment terms, and VAT application
7. Confidentiality Commitment: Statement on data protection and client information confidentiality
8. Independence Declaration: Statement confirming the firm's independence and professional objectivity
9. Limitation of Liability: Clear statement of the firm's liability limitations under Saudi law
10. Termination Provisions: Conditions and process for ending the engagement
11. Acceptance Section: Space for client acknowledgment and acceptance of terms
1. Additional Services: Section for any supplementary services that may be required beyond standard accounting services
2. International Reporting Requirements: Include when client requires reporting under international standards or for foreign jurisdictions
3. Group Structure Considerations: Required when dealing with complex corporate groups or holding companies
4. Zakat and Tax Services: Include when providing Zakat and tax-related services
5. Third-Party Access: Required when third parties need access to the accounting information or reports
6. Electronic Communication Consent: Optional section for specific agreement on digital communication and document sharing
7. Staff Assignment: Details of key team members when required for large engagements
1. Fee Schedule: Detailed breakdown of fees for different services and payment terms
2. Service Scope Detail: Comprehensive list of included and excluded services
3. Required Documentation: List of documents and information the client needs to provide
4. Timeline Schedule: Detailed timeline of deliverables and key dates
5. Team Structure: Organization chart and contact details of key team members
6. Standard Terms and Conditions: Firm's standard terms and conditions in compliance with Saudi regulations
7. Data Protection Protocol: Detailed procedures for handling and protecting client data
Authors
Financial Services
Professional Services
Manufacturing
Retail
Healthcare
Technology
Real Estate
Construction
Energy
Telecommunications
Hospitality
Education
Non-Profit Organizations
Government Entities
Small and Medium Enterprises
Finance
Accounting
Legal
Compliance
Internal Audit
Treasury
Tax
Corporate Secretariat
Risk Management
Executive Leadership
Procurement
Operations
Chief Financial Officer
Finance Director
Managing Partner
Audit Partner
Financial Controller
Accounting Manager
Corporate Secretary
Treasury Manager
Tax Manager
Compliance Officer
Legal Counsel
Managing Director
CEO
Finance Manager
Head of Finance
Director of Operations
Risk Manager
Internal Audit Manager
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