Each Chapman Eastway client has a direct and continuing relationship with one of the partners. The procedure is for an engagement partner to be assigned at the initial meeting, to plan and supervise all of the client’s activity.
The engagement partner will be responsible for the efficient carrying out of all assignments, for the briefing of other personnel as required, for communication with you, including the confirmation of our fees. It is our policy that the engagement partner continually update a second partner on the engagement so that there are always two people familiar with your affairs, should the engagement partner not be available for any reason.
Unless we advise you otherwise in writing of agreed fees for specific assignments, our fees for professional services, which will be billed as work progresses, are calculated on time spent by our partners and staff in carrying out the work. Individual hourly rates (quoted, exclusive of GST) vary according to the degree of responsibility involved and the experience and skill required. You will also be charged for all out of pocket expenses incurred in carrying out the work.
View our Indicative Houry Charge Costs
Statements made or estimates given regarding the likely cost of performing the work, or the likely time to perform work, are estimates made in good faith, but are not warranties or representations made for the purpose of reliance. Every reasonable endeavour will be made to meet the estimates, however such estimates may be exceeded and have no contractual force.
If our fees and costs are not paid within our agreed arrangements we reserve the right to charge interest. The rate of interest will be 2% above the overdraft rate of the Commonwealth Bank and will be calculated on a daily basis commencing from the overdue date. We reserve the right to cease work if any invoice remains unpaid for more than thirty (30) days from the date of the invoice or if any request for information is not dealt with to our satisfaction within thirty (30) days from the making of the request. A lien on all papers in our possession or under our control, including original documents, will be claimed until all invoiced amounts are paid in full.
Please note that our fees charged and disbursements incurred fall within the legislative definition of “supplies” for taxation purposes and as such will be subject to GST. Subject to legislative requirements, we will determine the manner in which GST is applicable and will provide you with our tax invoice on a GST inclusive basis. All GST must be paid by you at the same time and in the same manner as you pay our fees and disbursements that give rise to that GST. The invoice may enable you, if permitted by the legislation, to claim a credit or refund of GST.
- Quality Control
Any information acquired by us in the course of our engagement will be subject to strict confidentiality requirements. However, our files may be subject to review as part of the quality control review program for the Institute of Chartered Accountants in Australia which monitors compliance with professional standards by its members. As a term of our engagement we require you to acknowledge that, if requested, our files will be made available under this program. If this occurs, we will advise you. The same strict confidentiality requirements apply to this program as apply to us as your accountants. All confidentiality obligations are subject to any compulsion for disclosure which may arise as a matter of law.
- Accountants Limitation Scheme
Chapman Eastway participates in the Accountants Limitation of Liability Scheme. The scheme operates in NSW pursuant to the provisions of the NSW Professional Standards Act 1994 and is designed to limit the maximum liability for damages arising out of a cause of action for occupational and professional liability which may be awarded against members of the Institute of Chartered Accountants in Australia who hold a certificate of Public Practice. Under this scheme, liability is limited to $500,000 where the fee charged is less than or equal to $50,000. All correspondence will carry the scheme’s logo which denotes that we participate in the Accountants Limitation of Liability Scheme. Acceptance of the above limitation is a condition to our performance of your work.
- Contributory Negligence
To the extent permitted by law, you agree that if you or a group member make any claim against us for loss as a result of a breach of our contract or for negligent advice, and that loss is contributed to by your group’s acts or omissions, then liability for the loss will be apportioned, as is appropriate, having regard to the respective responsibility for the loss. Accordingly, the amount you or other group members may recover from us will be reduced by the extent of your group’s contributions to that loss. If your group’s acts or omissions are the first causative step in the occurrence of such loss, you will be wholly responsible.
- Proportionate Liability
You expressly agree that Chapman Eastway shall not be held liable for any loss, damage or expense, directly or indirectly suffered by you or a group member which is caused, directly or indirectly in whole or in part, by a third party. You agree to indemnify Chapman Eastway in respect of any costs, claim, action, proceedings or demand made against us by any third party claiming contribution or indemnity in respect of any liability of such third party to you or a group member.
- Joint and Several Liability
All persons or group entities (including any added to the group at a later date) and any person or entity which receives a benefit from the performance of accounting services or advice from us, will be jointly and severally liable for the payment of our fees. In accepting our terms of engagement, you accept that all such persons or entities undertake joint and several responsibility for the payment of fees rendered to your group by us, and we rely on your warranty of authority that you have the authority to bind all members of your group.
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