Technical Factsheet 173 Engagement Letters for Tax Practitioners is the updated joint guidance issued by the main tax and accounting bodies.
Amendments have been made to the Foreword, Guidance Notes to the Appendices and Appendix C - Standard Terms and Conditions of Business only. An additional Appendix D has also been inserted covering Disengagement Letters. All other appendices remain unchanged.
New subjects covered in this edition are:
• The Cancellation of Contracts made in a Consumer’s Home or Place of Work etc Regulations 2008
• Consumer Protection (Distance Selling) Regulations 2000
• Services Directive
• iXBRL tagging
• Disengagement Letters
And the topics for which the guidance or recommended text has been changed include:
• Acting as a Guarantor - wording expanded
• Limitation of Liability - wording expanded and some text moved from the Standard Terms & Conditions to the covering letter
• Limitation of Third Party Rights - wording expanded
Practitioners are encouraged to review their existing engagement letters annually and update as appropriate. Where practitioners use the engagement letter and schedules developed by the joint bodies they should tailor them to suit their practice.
The factsheet can be found at http://www2.accaglobal.com/members/publications/technical_factsheets