Standard Terms of Engagement

We appreciate the opportunity to work with you and this agreement confirms our appointment to act as your accountants and business advisers for you and any related entities. These terms of engagement set out the conditions upon which we accept that appointment and needs be completed and returned to us before we can begin any work for you.

We agree to prepare Financial Statements and tax returns for you and any individuals or other entities associated with you from time to time as required.

• We agree to prepare Financial Statements and tax returns for you and any individuals or other entities associated with you from time to time as required.

• Where required, we will prepare Financial Statements to meet the requirements of the Income Tax Act 2007 and disclosure requirements of the Tax Administration (Financial Statements) Order 2014 (for companies) and the Tax Administration (Financial Statements – Domestic Trusts) Order 2022 (for trusts).

• We will not undertake an Audit or Review of the information you provide to us. Accordingly, the Compilation Report disclaimer will apply to any reports we prepare for you.

• We agree to provide general business advice when requested by you, or when we believe that it will benefit you.

• Where we prepare your GST returns you agree that we cannot be held responsible for incomplete or erroneous information provided by you. Where we file these GST returns you also agree that we file these on your behalf as agent and not as principal.

• You agree that any working papers prepared by us in relation to this engagement remain the property of Accountrix Limited. These records are retained for a period of at least 7 years after the end of the income year to which they relate and then safely shredded.

• You are responsible for the accuracy and completeness of the information as well as checking the final financial statements and tax returns for reasonableness and correctness.

• We are required to comply with all applicable by-laws, rules, regulations, professional and ethical standards and guidelines of Chartered Accountants Australia and New Zealand and the New Zealand Institute of Chartered Accountants (NZICA) including:
- The provisions of the NZICA Code of Ethics that apply if we become aware of actual or potential ‘noncompliance with laws and regulations’ (NOCLAR). Where any such non-compliance poses substantial harm (such as adverse consequences to investors, creditors, employees or the public), we may be required to disclose the matter to an appropriate level of management or those charged with governance and/or an appropriate authority.
- The provisions of the NZICA Rules and Professional Standards that subject us to practice review, trust account audits, investigations and disciplinary procedures. These rules require us to disclose to NZICA, its practice reviewers and/or its disciplinary bodies our files and workpapers including client information. In accepting this engagement, you acknowledge that, if requested, our files related to this engagement, may be made available to NZICA, its practice reviewers and/or its disciplinary bodies. Employees and contractors of NZICA are also bound by confidentiality under contract and by the NZICA Code of Ethics.

• If you have any concerns about our costs or services, please speak to the person responsible for this engagement, who is identified in our engagement letter. To resolve your concerns, we have policies and procedures in place to deal appropriately with complaints and will use best endeavours to resolve a complaint or dispute to the mutual satisfaction of the parties involved. We may require you to detail your complaint in writing to allow us to fully investigate any concerns that you raise.

• We may utilise third party services including an External Peer Reviewer from time to time and as separately notified to you, to perform the services. In utilizing these third-party services, we provide these third parties with access to your data to the extent this is required to perform the services. This requires information being sent to our service providers in accordance with our Privacy Policy.

• We will inform you if we become aware of any conflict of interest in our relationship with you (including between the various persons this engagement letter covers) or in our relationship with you and another client. Where conflicts are identified which cannot be managed in a way that protects your interests or you do not consent to the way in which we propose to manage the conflict then we will be unable to provide further services to some or all the persons to whom this engagement applies. If this arises, we will inform you promptly. We may act for other clients whose interests are not the same as or are adverse to yours, subject to the obligations of conflicts of interest and confidentiality referred to above.

• To the maximum extent permitted by law, our maximum aggregate liability (including of all our [principals, partners, directors, and members]) under or in connection with this engagement letter or its subject matter is limited to $1,000,000. You agree not to bring any claim against any of our principals, partners, directors, members, or employees in their personal capacity. To the maximum extent permitted by law, we are not liable to you for indirect, special, or consequential losses or damages of any kind; or liability arising due to the acts or omissions of any other person or circumstances outside our reasonable control, or your breach of these terms.

• Our advice and information are for your sole use, and we accept no responsibility to any third party, unless we have expressly agreed in the engagement letter that a specified third party may rely on our work.

• We may receive discounts or partner benefits from Xero (or any other software provider) as part of our professional partnership arrangements. These discounts or benefits are retained by us and are not passed on to you unless specifically agreed otherwise. Our pricing for Xero subscriptions or related services will be
communicated to you separately.

• The responsibility for the preparation of annual minutes and the maintenance of statutory company records rests with the directors of the company. Where we act as your registered office, we can assist with the preparation and maintenance of statutory records, including annual minutes, upon your request and subject to additional fees. Where we do not act as the registered office, you remain responsible for ensuring these obligations are met and that statutory records are up to date and retained as required by law.

• We do not act as a trustee but assist with the preparation of annual trust minutes or other trust administration tasks, this will be limited to clerical support and does not involve exercising any trustee discretion or decision-making. The ultimate responsibility for trust management, compliance with the Trusts
Act 2019, and decision-making remains with the trustees.

Fees & Charges

Fees are determined either by negotiated quote or by the amount of time spent on performing professional services for you, considering the skills, specialised knowledge and responsibilities required.

Where you have engaged us to provide professional services to another party or an associated entity, we will invoice that entity directly. However, in the event of late payment or non-payment responsibility remains with you which is acknowledged by those people who sign below.
We may withdraw our services and decline to continue further work until the fee is paid in full or until an acceptable repayment arrangement is installed. Should services be withdrawn we will not be held liable for any penalties or interest charged because of late filing of tax returns or other documents.
We reserve the right to charge a late payment penalty and interest on the balance outstanding after the due date at a rate of 2% per calendar month or part thereof compounded from due date to date of actual payment.
If a client's debt is passed onto a third party, the client will incur ALL associated costs, including debt collection process cancellation fees if incurred.

I understand your work cannot be relied on to detect error and fraud, and that you accept liability for the accuracy and completeness of the information supplied by us. We further understand that the Financial Statements will be prepared at our request and for our purpose only, and that you will not be liable for any losses, claims or demands by any third parties. I give you full authority to contact any organisation, via telephone, writing or electronically, including banks, solicitors, the Inland Revenue Department (IRD), the Accident Compensation Corporation (ACC) and all other government agencies for the purpose of obtaining information necessary to complete the Financial Statement/ Tax Returns. I authorise you (Accountrix Limited IRD No: 125 397 190) to act as my agent with Inland Revenue Department and to link myself and related entities to your agency list and to obtain information from Inland Revenue through all channels, including electronic for all tax types (except Child Support

Accountrix Limited may file all Tax Returns electronically and has authority to sign returns including all of my related entities on my behalf. By signing below, I take full responsibility for their contents and accuracy.