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Compilation Engagement Letter
"I need a Compilation Engagement Letter for my small retail business based in Zurich, to be effective from March 1, 2025, covering monthly financial statement compilation services with standard Swiss GAAP requirements."
1. Letterhead and Date: Professional firm's letterhead and current date
2. Recipient Details: Client's name, title, and address
3. Engagement Subject: Clear identification of the specific compilation engagement and the financial information to be compiled
4. Scope of Compilation: Detailed description of the compilation services to be provided and their limitations
5. Management Responsibilities: Clear statement of management's responsibilities for the financial information and decision-making
6. Professional Responsibilities: Outline of the accountant's professional responsibilities and the nature of the compilation engagement
7. Fees and Billing: Fee structure, billing arrangements, and payment terms
8. Timeline: Expected timeframes for the compilation work and deliverables
9. Confidentiality: Commitments regarding confidential information handling and data protection
10. Acceptance and Signature: Request for acknowledgment and acceptance of the terms, with signature blocks
1. Professional Standards Reference: Specific reference to PS 920 and other applicable professional standards when dealing with regulated entities or sophisticated clients
2. Independence Statement: Statement about independence (or lack thereof) when required by specific circumstances or client requirements
3. Use Restrictions: Specific restrictions on the use and distribution of the compiled financial information when needed
4. Conflict Resolution: Specific dispute resolution procedures when dealing with complex engagements or high-risk clients
5. Language Provisions: Specification of binding language version when the letter is provided in multiple languages
6. Electronic Communication Consent: Terms for electronic communication and document transmission when relevant to the engagement
1. Schedule A - Scope Details: Detailed listing of specific financial information to be compiled and format requirements
2. Schedule B - Fee Schedule: Detailed breakdown of fees, hourly rates, and additional charges if applicable
3. Schedule C - Timeline: Detailed project timeline with specific milestones and deadlines
4. Appendix 1 - Required Information: List of information and documents to be provided by the client
5. Appendix 2 - Terms and Conditions: Standard terms and conditions of the professional firm
6. Appendix 3 - Data Protection Notice: Detailed information about data handling and privacy practices in compliance with Swiss law
Authors
Financial Services
Manufacturing
Retail
Technology
Healthcare
Professional Services
Real Estate
Construction
Hospitality
Non-Profit Organizations
Small and Medium Enterprises
Start-ups
Finance
Accounting
Treasury
Compliance
Legal
Executive Management
Administration
Corporate Governance
Risk Management
Chief Financial Officer
Financial Controller
Accounting Manager
Finance Director
Partner (Accounting Firm)
Managing Director
Business Owner
Financial Manager
Audit Partner
Company Secretary
Treasury Manager
Compliance Officer
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