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History has taught us that tracking engagement letter content and approval can become complicated and complications usually don’t arise in a predictable way!
The complications of engagement letters can come at any time, in any job, but they often arise in places you’d least expect them to. For example, in straightforward engagements with long-term clients—the kind you’re comfortable with because they repeat year after year. Or the kind of engagements where your firm’s Partners and Managers are so focused on helping the client they jump right in, get to work, and postpone the drudgery of “administrative stuff” until the last minute.
The Foundation of Client Relationships
The engagement letter is the guiding document that details the scope of work, deadlines, internal and external support requirements and fee arrangement. It is the foundation document in the firm/client relationship.
Good CPA firms know how important engagement letters are. They understand that it’s crucial for outlining the scope of work, cost expectations and completion time-to do the job right! Unfortunately the actual engagement letter generation process of creating and executing the letter has become a burden for many CPA firms.
Streamlined Updates: Effortlessly keep your engagement letter templates up-to-date and compliant.
Version Control: Eliminate confusion with centralized management of all engagement letter versions.
Guaranteed Execution: Ensure every engagement letter is signed and securely stored.
Upfront Clarity: Prevent work from starting without a signed and executed engagement letter.
Simplified Management: Gain complete control and visibility over the entire engagement letter process.
Increased Efficiency: Save valuable time and resources by automating manual tasks.
With Amelio, you can:
What Types of Complications can arise if you’re not vigilant?
Mismatched expectations
Liability lawsuits
Missed deadlines
Lack of necessary information to do the full scope of work
Delayed or missing payment
Clearly, no one wants any of these complications to arise. While losing a liability lawsuit might be a worst case scenario, you could more easily lose money or a client if you don’t have a clear, client-approved engagement letter to guide your work.
