Terms & Conditions
Standard terms and conditions relating to professional engagements
Before entering into an agreement with Yorke Advisory, please ensure you have read and understand this our Standard Terms & Conditions of Engagement Relating to Professional Engagements (“Terms”).
If you do not understand the Standard Terms & Conditions, you should seek independent legal advice.
1. THIS AGREEMENT
These Standard Terms and Conditions relating to professional engagements, are to be read in conjunction with our engagement letter to you. They apply to all services that we perform for the parties that are described in the engagement letter (referred to as Services). Together, the engagement letter and the Standard Terms and Conditions relating to professional engagements are called “this agreement”. Where there is any inconsistency between the engagement letter and these Standard Terms and Conditions, the engagement letter will prevail.
This agreement constitutes the entire agreement between the parties with respect to our work under this agreement and supersedes all prior agreements, proposals, oral and written representations and negotiations.
2. GROUP ENTITIES, TRUSTEES, DIRECTORS AND GUARANTEES
Where services are provided to more than one individual, entity, trust, company, partnership, superannuation fund or other related party under a single Engagement Letter or ongoing engagement arrangement (Group), each member of the Group engages Yorke Advisory on the terms of this Agreement.
Each member of the Group is jointly and severally liable for all fees, disbursements, interest, recovery costs and other amounts payable to Yorke Advisory arising from services provided to any member of the Group.
Where an individual signs this Agreement on behalf of a company, trustee, trust, partnership, superannuation fund or other entity, that individual warrants that they have authority to bind that entity to this Agreement.
Yorke Advisory may require one or more directors, trustees, partners, officeholders, beneficiaries or related parties associated with a Group to provide a personal guarantee for payment of fees and other amounts owing under this Agreement. If a requested guarantee is not provided within the required timeframe, Yorke Advisory may suspend work, withhold lodgements, refuse to release documents or terminate the engagement immediately upon written notice.
The obligations of each member of the Group survive termination of this Agreement and continue until all amounts owing to Yorke Advisory have been paid in full.
3. OUR OBLIGATIONS
Yorke Advisory will provide the Services set out in the engagement letter with competence, due care and diligence; however the quality of the Services will depend upon input from you.
We will be pleased to attend to the preparation of your financial statements and statutory returns in accordance with the relevant standards and ethical requirements of The Institute of Public Accountants in Australia and as required by the Income Tax Legislation. More importantly, you can expect our continual review of your financial position and monitoring of income tax planning to be pro-active and tailored to your needs.
Importantly, you play a major role in helping us deliver what you want. By providing the right information at the right time you will help us to help you prepare statutory returns that are accurate, complete and lodged within the prescribed period. This is necessary to avoid penalty tax and interest.
We shall schedule meetings as requested, to discuss and review the current results of your business.
We will also provide you with advice on tax planning issues prior to the end of the financial year, if requested.
4. OWNERSHIPS OF DOCUMENTS
The financial statements, statutory returns and any other documents which we are specifically engaged to prepare, together with any original documents given to us by you, shall be your property. Any other documents brought into existence by us, including general working papers, the general ledger and draft documents will remain our property at all times.
If our Services are terminated (by either party), we shall be entitled to retain all documents owned by you until payment in full of all outstanding fees. Where copies of any documents released to you are required for our records, you will be charged an administration fee for collation of those documents.
5. INTERNAL ACCOUNTING, BOOKKEEPING AND PAYROLL SERVICES
Where bookkeeping, payroll, BAS, IAS, management reporting or related accounting services form part of our engagement, we may process transactions, prepare reports and assist with compliance obligations based on information obtained from accounting software, bank feeds, payroll systems and information supplied by you.
Unless specifically engaged to do so, we do not verify transactions against source documentation and our services do not constitute an audit, review or assurance engagement. We are entitled to rely upon information contained within accounting software records, electronic data feeds and information provided by you without independently verifying its accuracy.
You acknowledge that bank feed descriptions and electronic records may be incomplete or insufficient to determine the correct accounting, taxation, GST or payroll treatment of a transaction without additional information being supplied by you.
You are responsible for maintaining complete and accurate records, retaining source documentation, maintaining software subscriptions, granting user access and ensuring the accuracy of information provided to us. Any additional work required to review, verify, reconstruct or investigate transactions may be charged separately.
Where payroll services are provided, our role is limited to processing payroll information based on your instructions. Responsibility for employee management, employment contracts, employee classifications, awards, leave entitlements, Fair Work compliance, workers compensation obligations and compliance with employment legislation remains solely with you. Yorke Advisory does not provide human resources, industrial relations, workplace relations or employment law advice.
You are responsible for reviewing and approving all payroll reports, activity statements, financial statements, taxation returns and other documents prepared by us before they are lodged, submitted or relied upon.
The preparation of financial statements that present a true and fair view of an entity's affairs remains the responsibility of its directors, trustees, partners or proprietors. Our role is to assist management in meeting its accounting, taxation and statutory obligations based on the information made available to us.
You are responsible for maintaining complete and accurate records and for ensuring that all information provided to us is accurate, complete and timely. Our work and advice are based solely on the information provided by you, the circumstances made known to us and the assumptions set out in our correspondence. You must promptly notify us of any changes to that information or those circumstances.
The preparation of financial statements that present a true and fair view of an entity's affairs remains the responsibility of its directors, trustees, partners or proprietors. Significant penalties may apply for non-compliance with taxation, corporations, superannuation, employment and other applicable legislation.
Changes in legislation, regulations, administrative practice and judicial interpretation may occur after advice is provided, including changes that may apply retrospectively. Unless specifically engaged to do so, we are under no obligation to advise you of subsequent changes affecting advice previously provided.
6. AUDIT REQUIREMENT
We understand that an audit of the financial statements is not required and, accordingly, we do not express an opinion as to their truth, fairness or accuracy. Our reports are prepared solely for the use of the relevant entity and its directors, trustees, partners, members or proprietors. We accept no responsibility to any third party who relies on our reports, and any report issued by us will contain an appropriate disclaimer to this effect.
7. PREPARATION OF FINANCIAL STATEMENTS
Based on the information you provide, we will prepare financial statements for the specified entities in accordance with APES 315 Compilation of Financial Information (or any replacement standard).
Our services involve collecting, classifying and summarising financial information provided by you. We do not undertake verification, validation, audit or review procedures and accordingly do not express any form of assurance on the financial statements.
We rely on you for the completeness and accuracy of the information supplied, including the maintenance of adequate accounting records, internal controls and appropriate accounting policies. Responsibility for the financial statements and their use remains with the directors, trustees, partners or proprietors of the entity.
Our engagement should not be relied upon to detect fraud, theft, irregularities, illegal acts or errors, although we will advise you of any matters that come to our attention during the course of our work.
8. PREPARATION AND LODGEMENT OF INCOME TAX RETURNS
We will prepare and lodge Income Tax Returns for the individuals and entities covered by this engagement and, where requested, assist with reviewing assessments, instalment notices and related Australian Taxation Office correspondence.
Responsibility for the accuracy and completeness of Income Tax Returns and information provided to the Australian Taxation Office remains with the taxpayer and/or the officers of the relevant entity.
Our taxation advice is based on the information and circumstances provided to us and represents our professional opinion only. Taxation laws are subject to interpretation and challenge, and accordingly no guarantee can be given as to the outcome of any taxation position adopted.
We rely on the accuracy and completeness of the information provided by you and accept no responsibility for errors, omissions or inaccuracies arising from incomplete or incorrect information supplied to us.
Unless specifically agreed in writing and subject to a separate fee proposal or fee agreement, our services do not include responding to, managing or representing you in relation to Australian Taxation Office reviews, audits, investigations, objections, disputes or other compliance activities.
9. PREPARATION AND LODGEMENT OF SMSF FINANCIAL ACCOUNTS AND ANNUAL RETURN
We will prepare the financial accounts and SMSF Annual Return for your self-managed superannuation fund based on the information and documentation provided by you.
Our services may include preparation of the fund's financial statements, preparation and lodgement of the SMSF Annual Return, liaison with the fund's auditor, and obtaining actuarial certificates, land title searches and other supporting documentation where required.
You are responsible for providing complete and accurate accounting records and supporting documentation in a timely manner. Trustees should provide all records required for the preparation and audit of the fund as early as possible to ensure lodgement deadlines can be met.
Our engagement does not include legal advice, trust deed reviews, financial planning, investment advice, retirement planning advice or representation in relation to Australian Taxation Office reviews, audits, investigations or disputes. Any such services requested require a separate engagement and agreed fee arrangement.
10. PREPARATION AND LODGEMENT OF BUSINESS ACTIVITY STATEMENTS AND INSTALMENT ACTIVITY STATEMENTS
We prepare BAS, IAS and other activity statements using information obtained from accounting software, electronic data feeds, payroll systems and information supplied by you. Unless all relevant source documentation is provided and we are specifically engaged to review and verify that documentation, we do not verify transactions against invoices, receipts, contracts or other supporting records.
Accordingly, we rely on the accuracy and completeness of the accounting records, payroll information and other data contained within those systems and provided by you. GST classifications, transaction coding and other tax treatments are assumed to be correct unless information available to us indicates otherwise.
You are responsible for ensuring that all transactions have been correctly recorded, appropriate GST treatments have been applied, valid tax invoices and supporting documentation are retained, and all information provided to us is complete and accurate.
Our services do not constitute an audit, review or verification of your records. If errors, omissions or discrepancies are subsequently identified, additional work required to amend activity statements, accounting records or financial statements may be charged separately.
11. CORPORATE SECRETARIAL SERVICES
Where engaged to do so, we may assist with ASIC annual review compliance, maintenance of company registers, preparation of solvency resolutions and other corporate secretarial services based on information provided by directors and company officers.
You remain responsible for ensuring that all information provided to us is accurate, complete and provided in a timely manner. Our services do not include verification of information supplied by directors or company officers.
ASIC fees, government charges, company searches and other disbursements are payable in addition to our professional fees. Unless otherwise agreed, corporate secretarial services, registered office services and maintenance of company registers are charged separately from ASIC fees and charges.
12. DELAYS AND EVENTS BEYOND OUR CONTROL
Yorke Advisory will not be liable for any delay or failure in providing services where the delay or failure arises from circumstances beyond our reasonable control, including delays in receiving information or instructions from you, third-party system failures, software outages, natural disasters, illness, government action or other unforeseen events.
Where such delays occur, we reserve the right to revise our fees to reflect any additional work required and, where the delay is substantial or ongoing, suspend or terminate the engagement upon written notice.
13. FEES, PAYMENT TERMS AND ADDITIONAL SERVICES
We aim to keep our fees fair, transparent and predictable. Fees are charged in accordance with the Engagement Letter, fee proposal, service package or other written agreement.
We ask that invoices be paid by the due date. If accounts remain unpaid, we may need to pause work, including lodgements and the release of completed work, until payment is received.
Our standard annual compliance services generally include:
Preparation of our supporting workpapers;
Preparation of financial statements;
Preparation and lodgement of Income Tax Returns;
Preparation and lodgement of BAS and IAS returns;
Preparation of SMSF financial statements;
Preparation and lodgement of SMSF Annual Returns;
Liaison with the SMSF auditor.
Services not included in the Engagement Letter, fee proposal, bundled service package or other written agreement, are generally provided uner a separate engagement or fee arrangement. Examples are:
Tax planning and tax minimisation strategies;
Business advisory and consulting services;
Technical taxation advice;
Finance, lending or refinancing assistance;
Advice regarding business structures and entity selection;
Audit services;
ATO reviews, audits, investigations, objections and disputes;
ASIC compliance and company secretarial services;
Bookkeeping and payroll services;
Software setup, migration, training and support;
Reconstruction or correction of accounting records;
Preparation of budgets, forecasts and cashflow projections;
Attendance at meetings;
Review of assessments and ATO correspondence;
Liaison with banks, real estate agents, solicitors, brokers or other third parties;
Miscellaneous correspondence;
Disbursements, government charges and third-party costs.
Where additional work is required due to incomplete records, amended information or changed circumstances, we will discuss this with you and may charge an additional fee.
GST will be added to our fees where required by law.
The client is responsible for all reasonable costs incurred in recovering overdue amounts, including collection agency fees, legal costs, court costs and other enforcement expenses.
For compliance engagements, progression to lodgement is conditional upon all outstanding fees being paid in full unless otherwise agreed in writing by Yorke Advisory.
Where payment is not received by the due date, Yorke Advisory may suspend services, terminate the engagement and exercise any lien or other rights available at law.
14. DISBURSEMENTS AND THIRD-PARTY COSTS
From time to time we may incur costs on your behalf, including ASIC fees, audit fees, actuarial certificates, land title searches, software subscriptions, government charges and other third-party expenses. These costs are separate from our professional fees and will be charged at cost, including any applicable GST.
15. TERMINATION OF ENGAGEMENT
Either party may end the engagement by providing written notice. If this occurs, we will invoice for work completed and costs incurred up to the date the engagement ends.
In some circumstances we may be unable to continue acting for you, including where:
fees remain unpaid after the due date;
information or instructions are not provided within a reasonable time;
our professional obligations prevent us from continuing;
or the working relationship has broken down.
Where possible, we will discuss these issues with you before taking such action.
16. CONFIDENTIALITY
The conduct of this engagement in accordance with the standards and ethical requirements of The Institute of Public Accountants in Australia, means that information acquired by us in the course of the engagement is subject to strict confidentiality requirements.
We will not disclose that information to other parties except as required by law or professional standards (for example, disclosures to the ATO, ASIC, superannuation funds, financial institutions, software providers, and professional advisers), or with your signed permission unless we determine that disclosure of the non-compliance or suspected non-compliance to an appropriate authority is an appropriate course of action in the circumstances.
17. PRIVACY
During the course of our work, you may disclose personal information about yourself or others to us. This information will be used for the purpose of our engagement and will be gathered, maintained and secured in accordance with the requirements of the Privacy Act 1988 as amended. A copy of our privacy policy is available on our website at www.yorkeaba.com.au
18. INDEPENDENCE
The Tax Agent Services Act requires Yorke Advisory to act lawfully. Accordingly, we reserve the right to terminate an engagement if a client expects Yorke Advisory to do something unlawful.
19. INTELLECTUAL PROPERTY
Yorke Advisory retains ownership of all intellectual property rights, including copyright, in all systems, methodologies, software, templates, know-how, reports, written advice, working papers and other materials developed or provided in connection with our services.
All working papers prepared by Yorke Advisory in connection with the engagement remain our property.
20. ELECTRONIC COMMUNICATIONS
You consent to Yorke Advisory communicating with you electronically, including by email, client portals, cloud-based software and electronic signature platforms.
While reasonable steps are taken to maintain security, electronic communications may be intercepted, delayed, corrupted, lost, contain viruses or otherwise be affected by events beyond our control. To the extent permitted by law, neither party will be liable for any loss arising from the use of electronic communications or third-party technology platforms.
21. INDEMNITY AND LIMITATION OF LIABILITY
You agree to indemnify Yorke Advisory against any loss, claim, liability, cost or expense incurred in connection with claims made by third parties arising from information supplied by you, your failure to comply with this Agreement, or your use of work prepared by us for purposes other than those for which it was intended.
This indemnity does not apply to the extent that any loss, claim, liability, cost or expense is finally determined to have resulted from Yorke Advisory's negligence, wrongful act or wilful misconduct.
Our liability is limited by a scheme approved under Professional Standards Legislation. Further information regarding the scheme is available from the Professional Standards Council.
22. CLOUD-BASED SYSTEMS AND THIRD-PARTY PROVIDERS
Yorke Advisory operates as a cloud-based practice and uses a range of software platforms and service providers to deliver services efficiently and securely. These systems may store, process or transmit information in Australia or overseas.
While we take reasonable care in selecting reputable providers, we do not control the operation or availability of third-party systems. If a client chooses not to use systems reasonably required for the engagement, alternative processes may result in additional fees, delays or, in some cases, our inability to continue providing services.
23. FILE RETENTION AND DESTRUCTION
Yorke Advisory may retain client records, correspondence, electronic files and working papers for legal, professional, regulatory and risk management purposes.
Unless otherwise required by law, we may securely destroy files and records seven (7) years after completion of the relevant service or termination of the engagement. We are not responsible for retaining original documents belonging to you and recommend that you maintain your own copies of all records provided to us.
Where documents are returned to you or transferred to another adviser, Yorke Advisory may retain copies, including electronic or scanned copies, for our records.
24. ASSIGNMENT
Yorke Advisory may assign, transfer or novate this Agreement to a successor to its business, including as part of the sale, merger or restructuring of the practice, provided that any successor agrees to be bound by applicable confidentiality, privacy and professional obligations.
25. ACCEPTANCE OF TERMS
You accept and agree to be bound by this Agreement by:
signing the Engagement Letter or otherwise accepting it electronically;
instructing us to commence or continue providing services;
providing information or documentation to us after receiving the Engagement Letter and these Terms; or
continuing to use our services after receiving the Engagement Letter and these Terms.
Your acceptance may be given verbally, electronically, in writing or by conduct.
26. ANTI-MONEY LAUNDERING AND CLIENT IDENTIFICATION
Where required by law or professional obligations, you agree to provide information and documentation necessary to verify your identity, ownership, authority to act and source of funds.
If you do not provide the requested information within a reasonable time, Yorke Advisory may be unable to commence or continue providing services and may suspend or terminate the engagement.
27. DISPUTE RESOLUTION
If a dispute arises in connection with this Agreement, the parties agree to attempt to resolve the dispute in good faith. If the dispute remains unresolved after 30 days, either party may refer the matter to mediation or another agreed dispute resolution process before commencing legal proceedings.
28. COMPLAINTS AND PROFESSIONAL OBLIGATIONS
Yorke Advisory is committed to resolving concerns promptly and professionally. If you have a complaint regarding our services, please contact us directly in the first instance.
As a registered tax practitioner, we comply with the Tax Agent Services Act 2009, the Tax Agent Services (Code of Professional Conduct) Determination 2024 and other applicable professional obligations. Information regarding your rights, our obligations and complaint pathways is available from the Tax Practitioners Board.
29. INFORMAL ADVICE
From time to time we may provide informal comments or preliminary views during discussions. Important advice should be confirmed in writing before being relied upon, as informal comments may not take into account all relevant facts and circumstances.
30. SEVERABILITY
If any provision of this Agreement is held to be invalid, illegal or unenforceable, that provision will be severed to the extent necessary and the remaining provisions will continue in full force and effect.
31. CONTACT DETAILS
You may contact Yorke Advisory using the contact details published on our website during business hours.