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| Our Fees |
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We feel that good communication with our clients is extremely important. The ability to communicate regularly is critical to our commitment to provide an innovative and proactive partner led service. A clear understanding of the fee arrangements forms the basis of this good working relationship. It is with this objective in mind that we have produced these guidelines. We charge fees in one of three ways: Fixed Fee or Fee Range - based on a specific assignment and agreed in advance. We realise the importance for clients of knowing where they stand with fees and recognise the benefit in our own efficiency of working within fixed parameters. It is our policy to agree fixed fees for assignments wherever possible. This will certainly be the case for many compliance assignments (audit, tax computations and returns) and any other assignments where the scope of the work and the time commitment can be reasonably estimated. Where we work on a fixed fee basis or within a fixed fee range, this will not change unless the nature or scope of the assignment changes before or during the course of our work and then only after proper consultation with our client. It is important that our clients provide us with what we need in order to deliver this service. A list of requirements will be agreed with you prior to commencement of the assignment.By Time - calculated by reference to the seniority of the personnel involved and the relative complexity of the service provided. We work on time-based fees where the nature of the assignment renders it inappropriate for a fixed fee agreement. When working on an hourly rate basis, we will provide an estimate of the anticipated time together with details of our current hourly rates, when requested to do so. We also keep our clients regularly appraised of the time incurred during the currency of the assignmentResult or Contingency based - normally a mixture of fixed and variable fees where the variable element is dependent on the successful outcome of a particular assignment. We are unable to undertake work on a contingency basis where the nature of the assignment requires us to give an opinion. However where different aspects of an assignment are handled by different departments under separate letters of engagement, then a contingency fee arrangement for one assignment may be appropriate. Our professional and ethical guidelines prevent us working on a contingency basis when we are requested to provide an expert opinion. Should this circumstance arise, professional advice can only be given if it is for a different department under a separate fee agreement. We will normally undertake work on a result or contingency basis in transaction-related work i.e. the raising of finance, or the sale of a business. In these cases the precise arrangement will be agreed in advance with our client including both the contingency and fixed element of our fees. |
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