Outsourced professional services Clause Samples
The "Outsourced professional services" clause defines the terms under which a party may engage third-party providers to perform certain professional services on its behalf. Typically, this clause outlines the scope of services that can be outsourced, the standards or qualifications required of the third-party providers, and any approval or notification requirements for the other contracting party. Its core function is to clarify the rights and obligations related to subcontracting professional work, ensuring transparency and maintaining quality standards while allowing flexibility in how services are delivered.
Outsourced professional services. 10.1 We may from time to time, use the services of third party contractors to assist in performance of the service we are engaged to perform, or we are unable to provide the required service.
10.2 Where SMSF Administration services are included within our scope, we confirm that an audit of your SMSF is required and that our firm is unable to provide this service.
10.3 We have engaged Evolv Auditors (SMSF auditors) to perform the necessary auditing service to you and confirm that the Evolv audit costs will be in addition to our fee quoted and have not been included within this agreement.
10.4 Where SMSF Administration services are included within our scope, we will provide the accounting records and source documents in a suitable format together with draft financial reports to enable the SMSF auditor to form an opinion on:
10.4.1 The underlying accounting records are reliable and adequate as a basis for the preparation of the financial statements; and
10.4.2 The financial position of the SMSF at balance date and the results for the year then ended are properly disclosed in the financial statements; and
10.4.3 Compliance with certain aspects of SIS Act & Regs.
10.5 Where bookkeeping and/or income taxation preparation services are included within our scope, and to assist with the output of our agreed upon services, we may engage the services of Odyssey Resources Limited (ORL).
10.6 Our firm has entered into an agreement for services with ORL after assessing the requirements outlined within GN 30 Outsourced Services issued by the APESB and the relevant Tax Practitioners Board guidance.
10.7 Our agreement with ORL and our firm’s policies and procedures comply with all Australian requirements as outlined within these terms, in particular with respect to confidentiality, privacy, and data security and protection.
10.8 We confirm that the services of ORL are provided from their operations centre in HCM City, Vietnam and that all correspondence between our firm and ORL is via a secure members login facility provided by ORL and password encrypted email messaging.
10.9 By accepting this agreement, you will also provide your consent to disclose any of your necessary confidential information or otherwise to both our firm and ORL in accordance with this agreement to fulfil our scope and output listed above.
10.10 We confirm and acknowledge that all services provided by ORL will form part of our services to you and therefore the responsibility of all output under this ag...