Clause for Concern: Essentials for Engagement Letters
Your first tool to secure business – and your first shield of protection if that business goes sour – depends on essential ingredients, according to preparers speaking about good engagement letters.
First in the recipe: others’ professional opinions. “Good engagement letters, like good tax returns, are not a do-it-yourself project,” said Enrolled Agent John Walker of Concord, N.H.-based J. Walker & Co. “It’s OK to draft the main points and get samples from various sources, but have yours reviewed by an experienced business-law attorney in your state. Doing so makes sure your letter provides the protection you want and helps that attorney see you as a responsible, competent fellow professional,” he said. Read more on Accounting Today.