Description
Learn to craft an engagement letter that builds the foundation of the accountantclient relationship.
The engagement letter is the foundation of the professional relationship between tax professionals and their clients. Many tax professionals ignore the importance of the engagement letter and its impact on the accountantclient relationship. With more and more lawsuits arising against professional service providers and their firms, accounting firms and bookkeeping and tax service providers need to take proactive steps to limit their legal liability. One of the best places to start is at the beginning with the engagement letter. This presentation will help professionals craft an engagement letter that (1) defines the scope of the relationship between the professional and the client, providing security to both the professional and the client (2) sets expectations early on in the relationship (3) prevents future misunderstanding (4) limits future liability and (5) allows the professional to disengage if the relationship needs to be terminated.
Date: 2022-10-04 Start Time: 1:00 PM ET End Time: 2:40 PM ET
Learning Objectives
* You will be able to describe the need for an engagement letter.
* You will be able to discuss the importance of preparing a specific engagement letter at the beginning of each client relationship.
* You will be able to identify problematic areas in engagement letters.
* You will be able to review your own firms engagement letter and revise it as necessary.