ACCA’s Engagement Letters product has been a valuable resource for our practices. However in light of the digitalisation of practices, ACCA feels that the future in this area lies in the integration of payment, money laundering requirements and engagement letters into a single onboarding process. Unfortunately it is not feasible to develop the existing product to meet these needs and ACCA will be discontinuing sales of the product at the end of this year. We will make available several free factsheets that will have some of the content from the Engagement Letters product in early 2020. Our partner – Practice Ignition – will offer an alternative ACCA-tailored version of their onboarding product in Spring 2020.
Should you still wish to purchase this product, we will release one final update to the product in Spring 2020 so you will still be able to use the product for some time.
Overview - ACCA UK Engagement Letter Templates
ACCA UK in partnership with VS Consultancy has produced a series of engagement letter templates for a variety of different scenarios. This product has been developed for the UK market and was updated for GDPR in April 2018.
This time-saving tool consists of self-loading Microsoft Word engagement letter files, which you can then tailor to your needs. The product consists of standard letters of engagement for a series of different business types and services.
It also offers guidance on the following:
This product will run on systems using Windows and uses a Microsoft app to install a shortcut on the computer desktop. It is therefore not compatible with Mac computers, however the individual Word documents within the product can be made available to Mac users.
Delivery processAfter you have completed your purchase, you will be emailed a link to a website page from which you can download the product. If you have not received this email after two working days then please email EngagementLetters@accaglobal.com.
Letters of engagement are mandatory under ACCA’s Rulebook. On accepting an appointment, the practitioner must send the client a letter of engagement. This forms the basis of a contractual relationship between the practitioner and the client.
A properly worded letter of engagement establishes the framework in which the client relationship is managed. It should set out the work that is to be performed and the basis on which the fees will be charged. (It is rarely worthwhile suing a client for non-payment of fees if you do not have a letter of engagement in place.)
Many practitioners now limit their liability for work done by an appropriately worded clause in the letter of engagement. The liability cap should be discussed and agreed with the client at the start of the assignment.
Another area that is strongly recommended to be included in a letter of engagement is that of dispute resolution. Whilst a client should be informed that they have the right to approach ACCA if a dispute cannot be resolved satisfactorily, in the first instance, the engagement letter should explain the firm’s internal disputes resolution procedure. In particular, it should identify the person within the firm that the client should contact in the event that he or she is dissatisfied with the service received.
Audit schedules of services
Non-audit schedules of services
Taxation schedules of services
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