Fill online: Engagement letter, virtual CFO services

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Your details

Reference number of the letter

Date of the letter

Name of the client

Fills 3 places in the document.

Registered office address of the client

CIN or LLPIN of the client

Name of the firm

Firm registration number

Effective date

Officer responsible for the books

Included hours per month

Client's designated person

Hours for breach notification

Days for payment of invoices

Is / is not

Micro / small

Udyam registration number of the firm

Month of the annual fee review

Days overdue before suspension

Multiple of fees for the liability cap

Outer limit of liability in Rs

Months for notifying a claim

Initial term in months

Days of notice of termination

Years for retention of working papers

City

Name of the engagement partner

Membership number of the partner

Date of the Board resolution

Name of the authorised signatory

Designation of the authorised signatory

Date of acceptance

Working day for the close review note (1)

Working day for the MIS pack (1)

Day of the weekly forecast (1)

Date for the draft budget

Days after month end for the investor update

Number of board meetings included

Days before the meeting for the board pack

Onboarding fee in Rs

Number of entities covered

Number of GST registrations covered

Number of bank facilities covered

Monthly retainer in Rs

Fee per additional meeting in Rs

Expense approval limit in Rs

Partner rate per hour in Rs

Manager rate per hour in Rs

Associate rate per hour in Rs

Working day for the close review note (2)

Working day for the MIS pack (2)

Day of the weekly forecast (2)

Client's day-to-day contact

Firm's engagement manager

Client's e-mail for notices

Firm's e-mail for notices

List the systems and their data locations

On the letterhead of the firm · in duplicate, one copy returned signed

Issue only after the independence check in paragraph 7 is on file. Never issue it where the firm or a network entity is, or may become, statutory auditor of the client group. Bookkeeping goes under a separate letter (FV06-B2).

Ref: [Reference number of the letter]
Date: [Date of the letter]

To,
The Board of Directors
[Name of the client]
[Registered office address of the client]
CIN / LLPIN: [CIN or LLPIN of the client]

Subject: Terms of engagement for virtual CFO services

Dear Members of the Board,

This letter and its Schedules record the terms on which [Name of the firm], Chartered Accountants, Firm Registration No. [Firm registration number] (the “Firm”, “we”), will act as virtual chief financial officer to [Name of the client] (the “Client”, “you”). It supersedes our proposal. Paragraphs 3, 4, 6, 7 and 11 limit what we do and answer for.

1. Appointment and nature of the engagement

1.1 Appointment. You appoint the Firm to provide the services in Schedule 1 (the “Services”) from [Effective date] (the “Effective Date”). They are professional services of the kind a chartered accountant in practice may render under section 2(2) of the Chartered Accountants Act 1949.

1.2 A service, not an office. No partner or employee of the Firm will be appointed Chief Financial Officer, key managerial personnel under section 2(51) of the Companies Act 2013, or any other officer of the Client, or become your employee. Where section 203 of that Act and rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 require a whole-time Chief Financial Officer, that appointment remains your obligation, and the Services support that officer.

1.3 Professional capacity. The Board will not charge the Firm with the maintenance, filing or distribution of accounts or records, and has charged [Officer responsible for the books] with the duty of complying with section 128 of the Companies Act 2013. Our advice to the Board is given in a professional capacity within the meaning of section 2(60)(v) of that Act.

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