The engagement letter: tedious document or important agreement?

Most entrepreneurs sign the engagement letter without reading it carefully. I understand — it is not a gripping document. But it is an important one.

An engagement letter sets out what you expect from us, what we expect from you and what the engagement costs. It prevents misunderstandings. And in accountancy, an engagement letter is also a legal requirement.

What belongs in a good engagement letter?

The nature of the engagement. Compilation is different from audit. In a compilation we rely on the information you provide — we do not audit it. That is not a shortcoming, that is the scope of the engagement.

The mutual responsibilities. You are responsible for the completeness and accuracy of the information you provide. We are responsible for processing it correctly.

The price. A fixed price gives you certainty. At Futura we work with agreed prices up front — no surprises afterwards.

The duration. Does the engagement run for one year, or is it a continuous engagement?

At Futura I draft the engagement letter — tailored, not from a template. I ensure everything is correct before Gerti signs and before you sign.

A signed engagement letter is the beginning of a good working relationship. Not a formality — a foundation.