Introduction
These standard terms apply to all services provided by Calc Accounting Limited. Our engagement letters, schedules of services, and these standard terms govern our professional relationship. By engaging our services, you agree to these terms unless expressly modified in writing.

Our Services
We provide accounting and related services as specified in individual engagement letters. Only services explicitly listed in your engagement letter are included in our scope of work. Fees will be outlined in your engagement letter and are subject to review if the scope changes.

Grant Audit Services
We offer independent grant audit and assurance services for recipients of government funding, including Innovate UK grants. Our assurance engagements are conducted in accordance with International Standard on Assurance Engagements (ISAE) 3000 (Revised). As qualified members of CCAB bodies, we meet the requirements to provide accountant’s reports for grant-funded projects.

Your Responsibilities
As a client, you are responsible for:
– Providing accurate and timely information
– Maintaining adequate accounting records
– Complying with relevant laws and regulations
– Safeguarding assets and implementing appropriate internal controls
– Reviewing and approving financial statements before they are finalized
– Determining if your company qualifies for audit exemptions

Our Responsibilities
We will:
– Provide services with reasonable care and skill
– Compile financial information based on the records you provide
– Advise on the adequacy of your accounting records
– Maintain confidentiality of your information
– Comply with professional and ethical standards
– Notify you if we believe financial statements may be misleading

Limitation of Liability
Our liability is limited to losses, damages, costs and expenses caused by our negligence or willful default. We are not responsible for:
– Losses arising from inaccurate or incomplete information you provide
– Consequences of your failure to act on our advice
– Third-party claims (unless agreed in writing)
– Losses arising from changes in law after our advice was given

For grant audit services, our liability will be limited as specified in the engagement letter, which typically sets limits appropriate to the size and scope of the grant being audited. For grants up to £3 million, our liability is typically capped at £2 million in aggregate, subject to specific exceptions detailed in the engagement letter.

Confidentiality
We will maintain confidentiality of all information provided by you, except where:
– Disclosure is required by law
– You have given permission
– It is necessary for regulatory or ethical purposes

Data Protection
We act as a data controller for personal information you provide. We will:
– Process data only for providing our services, complying with legal obligations, or for legitimate business interests
– Maintain appropriate security measures
– Retain data in accordance with legal requirements
– Respect data subject rights under current data protection legislation

Communication
We may communicate with you and third parties via email or other electronic means. While we use virus-scanning software, we cannot guarantee electronic communications will be secure, virus-free, or received within a certain timeframe.

Fees and Payment
– Our fees reflect time spent, skill level required, and complexity of work
– Invoices are due for payment within 30 days of issue
– We may charge interest on late payments at 8% above base rate
– We reserve the right to suspend services if payment is unduly delayed
– VAT will be added where applicable

Grant Audit Fees
For grant audit services, fees will be specified in the engagement letter. Please note that our fees for preparing grant audit reports are not eligible for grant reclaim and must be borne by the grant recipient. These costs cannot be recharged to the grant-providing body.

Period of Engagement and Termination
Either party may terminate our agreement with 21 days’ written notice. We may terminate immediately if:
– You fail to cooperate with us
– We believe you have provided misleading information
– An independence issue arises
– You fail to pay our fees
– Either party breaches their obligations

Quality Control
Our files may be subject to review by independent regulators or quality control bodies who are bound by the same confidentiality rules as our staff. We will investigate all complaints thoroughly, and clients reserve the right to take any complaint to the appropriate professional body.

Intellectual Property Rights
We retain all intellectual property rights in documents we prepare unless the law specifically states otherwise.

Document Retention
You have a legal responsibility to retain documents relevant to your financial affairs. For companies and corporate entities, records should be kept for six years from the end of the accounting period.

Professional Indemnity Insurance
Our professional indemnity insurer is Direct Line Insurance, of Churchill Court, Westmoreland Road, Bromley, Kent, BR1 1DP. Coverage is worldwide, excluding business carried out from offices in the US or Canada and claims brought in US or Canadian courts.

Complaints
If you are dissatisfied with our service, please contact info@calcaccounting.co.uk. We will acknowledge any complaint within five business days and aim to resolve it within eight weeks. Unresolved complaints may be referred to ICAEW.

Applicable Law
Our engagement and these terms are governed by English law. The English courts have exclusive jurisdiction in relation to any claim, dispute or difference concerning our engagement and any matter arising from it.

For further information or to discuss these terms, please contact us at:

Calc Accounting Limited
7 Green’s Court
Salisbury, England
SP1 2SX
info@calcaccounting.co.uk