Cloud Based Accountants Limited
Terms of Engagement and Authority

 When utilising the services of Cloud Based Accountants Limited, I/We, agree to the following terms of engagement and authority:

  • This serves as an instruction to Cloud Based Accountants Limited to provide the scope of accounting services in the form and at the intervals and frequency as quoted or specified elsewhere including by means of verbal, text or email instructions and may include the preparation of Financial Statements, Special Financial Reports and Tax Returns from the date of signature of this document until my written revocation of this authority.
  • I/We agree that services to be rendered will be scheduled by Cloud Based Accountants Limited at such times and on such dates to fit into their existing work schedule at their sole discretion, and there is no guarantee that any of the services delivered under this agreement will be delivered on a specific date or time, unless such an arrangement is mutually agreed in writing. However, I/We can reasonably expect that all services under this agreement will be delivered before the statutory due dates on condition that I/We have provided all relevant information required for the completion of the work at least 60 (Sixty) days before the relevant statutory due dates.
  • I/We agree to provide all records, documentation, access to bookkeeping platforms or whatever information might be requested for the purpose of executing any instructions under this arrangement in a timely manner.
  • I/We accept responsibility for the accuracy and completeness of the information supplied and accept responsibility for any delays and repercussions because of any failure to supply all relevant records and information.
  • I/We accept that such services will be performed under the financial reporting framework standards of the Accountants and Tax Agents Institute of New Zealand referred to as ATAINZ – Standard 1. I/We acknowledge that the Institute may require access to my/our records and related working papers for quality assurance purposes.
  • I/We understand that Financial Statements/Tax Return(s) are prepared for my/our use only for the purpose of determining any Income Tax liabilities, and as such Cloud Based Accountants Limited bears no responsibility to any other persons or entities for the contents of the Financial Statements. The same applies if financial reports are required for any other purpose.
  • I/We do not require an audit and do not require a detailed review of my/our affairs to substantiate the accuracy of the information and accept that there is no such assurance on services delivered under this agreement.
  • I/We understand that services delivered under this agreement cannot be relied on to detect error and fraud or to disclose internal control weaknesses, errors, illegal acts, or other irregularities. However, I can expect a notification of errors, illegal acts, or irregularities identified during the engagement.
  • I/We give you full authority in terms of the Privacy Act to contact any organisation, via telephone, writing or Internet access, including banks, tax pooling providers, solicitors, the IRD, the Accident Compensation Corporation (ACC) and all other government agencies for the purposes of obtaining information necessary to complete any reports or Financial Statements/Tax return(s) for all personal and business interests. I/We acknowledge that this information would not otherwise be available due to the Privacy Act restrictions but I/we give full authority for this statement to be used as written confirmation of my/our agreement to your obtaining from any organisation for the above-mentioned purposes.
  • I/We give you full authority to access and change information from the IRD and ACC for all tax types, this may be via telephone, in person, in writing, via internet such as The MyIR system and ACC Online.
  • I/We give you full authority to represent me/us as a tax agent with the IRD for all tax types. This authority includes full representation with all tax pooling providers. If deemed desirable I/we give full authority to Cloud Based Accountants Limited and its staff to sign Taxation or ACC Returns.
  • I/We agree to you attaching to my Financial Statements your Accountants’ Statement and Disclaimer, explaining your responsibilities.
  • I/We understand that Financial Statements will be prepared (if necessary) as Special Reports at my request and for myself, the IRD, my Bankers and Financiers and that you will not be liable for any losses, claims and demands by any third party or person.
  • I/We give permission to Cloud Based Accountants Limited to send me/us electronic messages including, but not limited to, information about its services, special offers and invitations to special client events.
  • Independence is not required for a compilation engagement. If Cloud Based Accountants Limited becomes aware that it is not independent of the entity for which the financial statements are prepared, this fact will be stated in the compilation report. However, no comprehensive review will be conducted to determine whether Cloud Based Accountants Limited is or is not independent of the entity.
  • At all times Cloud Based Accountants Limited will use reasonable skill and care in providing its services. However, in spite of this liability whether in contract, tort, equity or otherwise, for any loss or damage or expenses (including legal costs) suffered or incurred directly by me/us as a direct result of any act or omission by Cloud Based Accountants Limited in provision of the services, shall be limited to a maximum amount equal to the fee (excluding GST, disbursements and expenses) paid to Cloud Based Accountants Limited by me/us in respect of the services in question. If the services were provided in respect of more than one financial year, the fee on which the liability amount is based shall be the fee paid relating to the financial year in respect of which the act or omission occurred. Any claim against Cloud Based Accountants Limited must be brought within twelve months of the date on which the services were completed.
  • I/We agree to pay all invoices issued under this agreement on or before the due date stipulated on such invoices. I/We also agree to pay all collection costs applicable to the recovery of the account, should payment not be received. All invoices issued and payments received for such invoices will be treated as remuneration for services up to the invoice date. No amounts paid by me/us on any invoices should be considered as prepayments or overpayments of any services. It must be explicitly noted that there is no liability for any refund to me/us on the cancellation of services, irrespective of the notice of cancellation initiated by me/us or initiated by Cloud Based Accountants Limited.
  • I/We agree that Cloud Based Accountants Limited should continue rendering their services until a written notice of cancellation of such services is issued either by me/us or by Cloud Based Accountants Limited. Such a cancellation notice must clearly indicate from which future date such services should/would be cancelled. I/We also agree that the fees for such services will be based on the last accepted quoted rates irrespective if the specific quoted period, where such rates were specified, expired or not. I/We agree to pay all fees up to the cancellation date.     
  • Where Cloud Based Accountants Limited pay fees to third-party service providers on my/our behalf (like Xero or the Companies Office), I/we are liable to refund such fees on or before the due date specified on the invoice for such transactions. I/we explicitly accept and approve that such third-party services may immediately be terminated or cancelled, should I/we fail to refund such payments within the specified timeframe. I/We further acknowledge and accept that I/we will not hold Cloud Based Accountants Limited accountable for any loss of service or data related to the cancellation of third-party services due to my/our failure to make the refund payment within the specified timeframe.
  • I/We accept and agree that all services will be terminated immediately when any of the invoices become overdue and I/we agree that the services will only resume after full settlement of such overdue invoices including full settlement of late payment interest and charges on such overdue invoices.
  • Cloud Based Accountants Limited is entitled to retain possession of my/our records that have been used in relation to this engagement until outstanding fees are settled.