19. Service Specific Terms
19.1 The terms in this clause 19 apply only if You use these specific Services which We offer. If there is any conflict between this clause 19 (and related links) and the other terms of these Terms of Business, then this clause 19 shall take precedence.
19.2 Client money
19.2.1 Where we hold money on your behalf, the money will be held in trust in a client bank account, which is segregated from the firm’s funds. The account will be operated, and all funds dealt with, in accordance with ICAEW’s Clients’ Money Regulations.
19.2.2 We operate both general and designated client monies bank accounts. Where monies are held in Our general client monies account, to avoid excessive administration, interest will only be paid to You where a material amount (£200) of interest will be earned on the balances held on Your behalf in any calendar year. Any such interest will be calculated using the prevailing rate applied by Barclays Bank Plc for small deposits subject to the minimum period of notice for withdrawals. Subject to any tax legislation, interest will be paid gross.
19.2.3 We will only transact through a client monies bank account where the transactions relate to accountancy Services being provided by Us.
19.2.4 We operate client monies bank accounts at Our discretion and reserve the right to return funds, close accounts or to withdraw this Service at Our sole discretion on notice in writing to You.
19.2.5 The Financial Services Compensation Scheme (FSCS) may provide compensation in the unlikely event of the failure of a bank authorised by the UK Financial Conduct Authority (FCA). Compensation limits will apply to the combined total of client’s money held by Us on Your behalf, and any accounts which You also hold with the same bank, or other bank brand name covered by the same FCA authorisation number. Further information about compensation arrangements is available from the FSCS at www.fscs.org.uk or by calling them on 0800 678 1100 or 020 7741 4100.
19.2.6 We will return monies held on Your behalf promptly as soon as there is no longer any reason to retain those monies. In the unlikely event of Us holding any unclaimed monies, We reserve the right to pay such monies to a registered charity in line with the guidelines set out in the Clients' Money Regulations referred to above. We will not do this unless We have been unable to contact You for at least five years and We have taken reasonable steps to trace You and return the monies.
19.3 Terms specific to statutory audit work (including Limitation of Liability):
19.3.1 The purpose of these service specific terms and the Terms is to set out the basis on which we are to act as auditors and to clarify our respective responsibilities in respect of the audit.
19.3.2 Auditing Standards require us to appoint an engagement partner who shall take overall responsibility for the planning and conduct of the audit, and for the report that is issued on behalf of the firm. We have assessed the professional requirements of this assignment and the nominated responsible individual has been detailed in the Engagement Letter.
19.3.3 Under the Companies Act 2006 (CA 2006), the audit report in the signed copy of the financial statements provided to You must be signed by the Senior Statutory Auditor in their own name on behalf of the firm. The audit report in all other copies of the financial statements must state the name of the Senior Statutory Auditor, but may be signed in the name of the firm. The audit report in the financial statements filed at Companies House must state the name of the Senior Statutory Auditor and the name of the firm but does not need to be signed.
19.3.4 We will be responsible for the audit of Your financial statements commencing with the year-end specified in the Schedule of Services. We will not be responsible for the audit of Your financial statements in prior years. As this is a continuing service, We will remain responsible for the auditing of Your financial statements for subsequent years after the year end as specified in the Schedule of Services.
19.3.5 Your responsibilities as directors
19.3.5.1 Our audit will be conducted on the basis that You acknowledge and understand that You have responsibility:
19.3.5.1.1 to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. As directors You must not approve the financial statements unless You are satisfied that they give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company;
19.3.5.1.2 in preparing those financial statements to:
19.3.5.1.2.1 select suitable accounting policies and then apply them consistently;
19.3.5.1.2.2 make judgements and accounting estimates that are reasonable and prudent;
19.3.5.1.2.3 state whether applicable UK Accounting Standards have been followed subject to any material departures disclosed and explained in the financial statements; and
19.3.5.1.2.4 prepare the financial statements on the going concern basis, in particular, other than already disclosed, there are no significant doubts about the Company’s ability to continue in business for at least twelve months from the date when the financial statements are expected to be approved, unless it is inappropriate to presume that the Company will continue in business.
19.3.5.1.3 for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable you to ensure that the financial statements comply with the CA 2006 and applicable UK Accounting Standards;
19.3.5.1.4 or taking reasonable steps to secure that entities within the Company’s group that are not subject to the requirements of the CA 2006 keep such accounting records so to enable the directors to ensure that the group’s financial statements comply with the requirements of the Act;
19.3.5.1.5 for such internal control as you determine are necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error; and
19.3.5.1.6 for safeguarding the assets of the Company and for taking reasonable steps to ensure the Company’s activities are conducted honestly and for the prevention and detection of fraud and other irregularities.
19.3.5.2 In addition to the general duties of directors specified in CA 2006, s170–177 you are responsible for ensuring that the Company complies with laws and regulations applicable to its activities, and for establishing arrangements designed to prevent any non-compliance with laws and regulations and to detect any that occur.
19.3.5.3 You have agreed to provide Us with:
19.3.5.3.1 access to all information which You are aware is relevant to the preparation of the financial statements such as the Company's books of account and all other relevant records and documentation, including minutes of all management and shareholders' meetings and other matters;
19.3.5.3.2 additional information that We may request from You for the purpose of the audit including access to information relevant to disclosures;
19.3.5.3.3 unrestricted access to persons within the Company from whom we determine it necessary to obtain audit evidence: and
19.3.5.3.4 additional information that may include when applicable, matters related to other information in accordance with the Auditing Standards. If such information is not expected until after the date of the auditor’s report, You should note that We still have a responsibility to take appropriate action if we consider a material misstatement exists in this other information.
19.3.5.4 You are required to confirm in the directors' report that:
19.3.5.4.1 an appropriate accounting basis was used to prepare the financial statements; and
19.3.5.4.2 in so far as you are aware, there is no relevant audit information of which We, the Company's auditors, are unaware and that You have taken all the steps that You ought to take as directors in order to make yourselves aware of any relevant audit information and to establish that We are aware of that information.
Where applicable, You are also responsible for ensuring that You comply fully with the requirements of the Financial Services and Markets Act 2000 as amended by the Financial Services Act 2012. You undertake to disclose to Us all correspondence with the Financial Conduct Authority (FCA), all complaints records and internal and/or external compliance visits and any other information in Your possession.
Where applicable, You are also responsible for ensuring that You comply fully with the requirements of the Financial Services and Markets Act 2000 as amended by the Financial Services Act 2012. You undertake to disclose to Us all correspondence with the Financial Conduct Authority (FCA), all complaints records and internal and/or external compliance visits and any other information in Your possession.
19.3.5.5 Where audited information is published on the Company's website or by other electronic means, it is Your responsibility to advise Us of any intended electronic publication before it occurs and to ensure that any such publication properly presents the financial information and auditor's report. We reserve the right to withhold consent to the electronic publication of Our report if it or the financial statements are to be published in an inappropriate manner.
19.3.5.6 It is Your responsibility to ensure that there are controls in place to prevent or quickly detect any changes to the audited information published pursuant to the above. We are neither required to review such controls nor to carry out ongoing reviews of the audited information after it is first published on the Company’s website or by other electronic means. The maintenance and integrity of the Company's website and the audited information is Your sole responsibility and We accept no responsibility for changes made to audited information after it is first posted.
19.3.5.7 In connection with representations and the supply of information to Us generally as part of the audit, We draw your attention to the CA 2006, s501 and/or section 346 of the Financial Services and Markets Act 2000 as applicable, under which it is an offence for an officer or employee of the Company to knowingly or recklessly make misleading, false or deceptive statements to the auditors.
19.3.5.8 We expect that You will inform us of any material event occurring between the date of Our report and that of the annual general meeting which may affect the financial statements. We are entitled to receive details of all written resolutions that are to be circulated to members, to attend all general meetings of the Company, and to receive notice of all such meetings.
19.3.5.9 During the period of our engagement, it is Your responsibility to inform Us of any changes to the Company which may increase the regulatory requirements of the audit including, but not limited to:
19.3.5.9.1 the issuance of any listed debt or equity;
19.3.5.9.2 increases to the size of the Company (including revenue and number of employees) or operations that would result in the business being classified as a Public Interest Entity or Other Entity of Public Interest; or
19.3.5.9.3 The changes of ownership or operations resulting in the Company forming a substantial part of group financial statements were a report will be issued by another PCAOB registered audit firm (in respect of an SEC registrant issuer or broker dealer). A full definition of this can be found at PCAOB Rule 1001.
19.3.5.10 If You are unsure whether any of the above criteria apply, You agree to provide information to Us which will enable Us to accurately assess the Company’s position.
19.3.5.11 in the event that the Company becomes subject to increased regulatory requirements, We reserve the right to resign as auditors with immediate effect and without notice to You. In such circumstances, You agree that You will pay Our costs and fees incurred up to the date of resignation.
19.3.6 Our responsibilities as auditors
19.3.6.1 Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and Auditing Standards as to whether:
19.3.6.1.1 the financial statements give a true and fair view of the state of the company's affairs as at the year end, and of its profit or loss for the year then ended;
19.3.6.1.2 the financial statements have been properly prepared in accordance with UK Accounting Standards;
19.3.6.1.3 the financial statements have been prepared in accordance with the CA 2006;
19.3.6.1.4 the financial statements have been appropriately prepared on the going concern basis;
19.3.6.1.5 the financial statements have disclosed any identified material uncertainties that may cast significant doubt on the Company’s ability to continue to adopt the going concern basis for at least the next twelve months from the date they are approved;
19.3.6.1.6 the directors’ report and, if relevant, the strategic report or any other information included in the annual report:
19.3.6.1.6.1 have been prepared in accordance with applicable legal requirements;
19.3.6.1.6.2 includes information that is consistent with the financial statements; and
19.3.6.1.6.3 in the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, We have identified any material misstatements in the directors’ report and, if relevant, the strategic report or any other information included in the annual report, giving an indication of the nature of such misstatements.
19.3.6.1.7 In respect of the following matters specified in the CA 2006 We will also report to You on whether or not in our opinion:
19.3.6.1.7.1 adequate accounting records have been kept by the Company and returns adequate for our audit have been received from branches not visited by Us; or
19.3.6.1.7.2 the financial statements are in agreement with the accounting records and returns; or
19.3.6.1.7.3 certain disclosures of directors’ remuneration specified by law are not made; or
19.3.6.1.7.4 We have received all the information and explanations We require for our audit; or
19.3.6.1.7.5 where the Company has prepared financial statements in accordance with the small company regime, whether it is entitled to do so; or
19.3.6.1.7.6 where the Company has taken advantage of the small companies’ exemption in preparing the directors’ report and, if relevant, taken advantage of the small companies exemption from the requirement to prepare a strategic report, whether it is entitled to do so. In arriving at that opinion those standards require us to comply with ethical requirements.
19.3.6.2 It is not sufficient for Us as auditors to conclude that the financial statements give a true and fair view solely on the basis that the financial statements were prepared in accordance with accounting standards and any other applicable legal requirements. We are therefore required to consider whether additional disclosure will be necessary in the financial statements when compliance with an accounting standard is insufficient to give a true and fair view. If You are unwilling to make such additional disclosures, we will have to consider the effect on our report, including whether we can continue to undertake the audit.
19.3.6.3 If the financial statements have been prepared in accordance with the micro-entities regime and FRS 105, which is not considered a fair presentation framework but a compliance framework, We reserve the right to include an ‘other matter’ paragraph in Our report to mitigate any potential misunderstanding.
19.3.6.4 Our report will be made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of CA 2006. Our audit work will be undertaken so that We might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we will not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for the audit report, or for the opinions we form. The audit of the financial statements does not relieve you of your responsibilities.
19.3.6.5 There are certain other matters which, according to the circumstances, may need to be dealt with in Our report. For example, where the financial statements do not give details of directors' remuneration or of their transactions with the Company, the CA 2006 requires Us to disclose such matters in our report.
19.3.6.6 In addition, We have a professional duty to report if the financial statements do not comply in any material respect with UK Accounting Standards, unless in Our opinion non-compliance is justified in the circumstances. In determining whether or not any departure is justified We will consider:
19.3.6.6.1 whether the departure is required in order for the financial statements to give a true and fair view; and
19.3.6.6.2 whether adequate disclosure has been made concerning the departure.
19.3.6.7 Our professional duties also include:
19.3.6.7.1 incorporating in Our report a description of the directors' responsibilities for the financial statements, where the financial statements or accompanying information do not include such description; and
19.3.6.7.2 considering whether other information in documentation containing the financial statements is consistent with the audited financial statements and Our knowledge acquired during the course of the audit.
19.3.6.8 Where the Company is a subsidiary of a group, the audited financial statements of this Company are included in the group financial statements of the parent company. We are required by Auditing Standards to cooperate with the auditors of the parent company and to provide them with representations and confirmations concerning the conduct of the audit of the Company. You agree that we may correspond with the auditors of the parent company and respond to their reasonable requests for information (which may include granting them access to Our working papers) concerning the preparation and audit of the group financial statements without further authority from You.
19.3.6.9 Where the Company is the parent company of a group and all components are audited by the same firm, the audited financial statements of the Company are the group financial statements. As the group engagement auditors, we are required by Auditing Standards to coordinate the audit work on all subsidiaries. Therefore, whilst as auditors of each subsidiary the firm already has access to the management of those subsidiaries concerning their individual audited financial statements, You agree that we may also correspond with the management of the subsidiaries and request reasonable information concerning the preparation and audit of the group financial statements without further authority from You.
19.3.6.10 Where the Company is the parent company of a group and not all component auditors are from the same firm, the audited financial statements of the Company are the group financial statements. As the group engagement auditors, we are required by Auditing Standards to coordinate the work of the auditors of the subsidiaries and to provide them with guidance concerning the conduct of the audit of the group. You agree that we may correspond with the management of the subsidiaries, and their auditors, and request reasonable information (which may include access to the subsidiary auditor’s working papers) concerning the preparation and audit of the group financial statements without further authority from You.
19.3.6.11 The provision of audit services is a activity in the regulated sector under the Proceeds of Crime Act 2002 and, as such, partners and employees of audit firms have to comply with this legislation which includes provisions that may require Us to make a money laundering disclosure in relation to information We obtain as part of Our audit work. We may not inform You when such a disclosure is made or the reason for it because of the restrictions imposed by the “tipping off” provisions of the applicable legislation.
19.3.6.12 For listed entities we will:
19.3.6.12.1 provide those charged with governance with: a written statement that We have complied with the relevant ethical requirements; and
19.3.6.12.2 communicate all relationships and other matters that may reasonably be considered to bear on Our independence along with any relevant safeguards; and
19.3.6.12.3 determine the matters that were of most significance in the audit from those communicated with those charged with governance.
19.3.6.13 In circumstances when we decide to communicate key audit matters in the audit report, we will determine the matters that were of most significance in the audit from those communicated with those charged with governance.
Scope of the audit
19.3.6.14 Our audit will be conducted in accordance with the Auditing Standards. An audit involves obtaining evidence from information provided by the Company and its directors about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. We will evaluate whether the information presented in the financial statements is relevant, reliable, comparable and understandable as well as providing adequate disclosures and appropriate terminology. This includes an assessment of:
19.3.6.14.1 whether the accounting policies are appropriate to the Company's circumstances and have been consistently applied and adequately disclosed;
19.3.6.14.2 the reasonableness of significant accounting estimates made by the directors;
19.3.6.14.3 whether there is adequate disclosure of the applicable financial reporting framework; and
19.3.6.14.4 the overall presentation of the financial statements.
In addition, We read all the financial and non-financial information in the Annual Report and, if relevant, the strategic report. If we become aware of any apparent material misstatements or inconsistencies we consider the effect on Our report.
In addition, We read all the financial and non-financial information in the Annual Report and, if relevant, the strategic report. If we become aware of any apparent material misstatements or inconsistencies we consider the effect on Our report.
19.3.6.15 Because of the test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, there is an unavoidable risk that even some material misstatements may remain undiscovered even though the audit is properly planned and performed in accordance with the Auditing Standards.
19.3.6.16 We will obtain an understanding of the accounting and internal control systems in order to assess their adequacy as a basis for the preparation of the financial statements and to establish whether the Company has maintained adequate accounting records. We will need to obtain relevant and reliable evidence sufficient to enable Us to draw reasonable conclusions therefrom.
19.3.6.17 The nature and extent of Our tests will vary according to Our assessment of the Company's accounting and internal control systems, and may cover any aspects of the Company's operations. We shall report to the management any significant deficiencies in, or observations on, the Company's systems that come to our attention of which We believe the directors should be made aware. Any such report may not be provided to any third party without Our prior written consent. Such consent will only be granted on the basis that such reports are not prepared with the interests of any party other than the members in mind and that We therefore neither have nor accept any duty or responsibility to any other party in connection with the report(s).
19.3.6.18 The responsibility for safeguarding the assets of the Company and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the management. However, We will plan Our audit so that We have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations, but Our examination should not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist.
19.3.6.19 As part of our normal audit procedures, We will request you to provide formal representations concerning certain information and explanations we receive from You during the course of Our audit. In particular, where We bring misstatements in the financial statements to Your attention which are not adjusted, we shall require written representation of your reasons.
19.3.6.20 To enable us to conduct a review of your financial statements, which constitutes part of our audit, we will request sight of any documents or statements which will be issued with the financial statements.
19.3.6.21 Once we have issued our report we will have no further direct responsibility in relation to the financial statements for that financial year. However, as noted in section 1, we expect that you will inform us of any material event occurring between the date of our report and that of the annual general meeting which may affect the financial statements. We also have a right of access under the FCA’s rules where applicable, to Your accounting and other records and to all other documents relating to Your business at all times. We also have a right to require from You, Your appointed representatives, and employees (whether under a contract of service or a contract for services) or any connected custodian or trustee holding customer assets such information and explanations as We think necessary for the performance of Our duties as auditor.
19.3.6.22 In performing Our audit procedures, We may make use of analytical tools. To facilitate this we may request that You extract data, provide backups or provide alternative access to Your accounting systems (which may include creating a connection between Your systems and Ours). How we will use analytical tools and any data will be set out in the communication of Our planned approach with You.
19.3.6.23 As statutory auditors, We have sole responsibility for the audit opinion expressed and for determining the nature, timing and extent of Our audit procedures. All judgements relating to the audit of the financial statements are those of the statutory auditors. That responsibility is not reduced by, where applicable, any use made of internal audit work. However, internal audit work may serve to provide Us with audit evidence. To this end, We may assess the work carried out by the internal audit function to determine the extent to which it is possible to rely on it in specific areas.
19.3.6.24 Once We have issued our report we will have no further direct responsibility in relation to the financial statements for that financial year. However, We expect that You will inform us of any material event occurring between the date of Our report and that of the annual general meeting which may affect the financial statements.
19.3.6.25 HMRC do not require the auditor to provide assurance on the XBRL tagging of the financial statements submitted to it with the Company Tax Return. In addition, the Auditing Standards do not require the auditor to confirm the accuracy of the tagging as part of the audit. Accordingly, Our audit does not cover the accuracy of the XBRL tagging in the financial statements, and We accept no responsibility for any inaccuracies identified by HMRC.
19.3.6.26 A fuller description of the scope of an audit of financial statements arising from the requirements of the Auditing Standards, together with other legal and regulatory requirements, is provided on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities.
Communication
19.3.6.27 In order to ensure that there is effective two-way communication between us We set out below the expected form and timing of such communications.
19.3.6.27.1 We shall contact You prior to each year-end for preliminary discussions concerning the audit. If necessary, We will confirm in writing the matters discussed and any agreed action.
19.3.6.27.2 We will arrange a meeting to discuss the forthcoming audit prior to the expected start date. Again, if necessary, We will confirm in writing the matters discussed and any agreed action.
19.3.6.27.3 We will arrange a meeting to discuss any matters arising from the audit after completion of the detailed work. Again, if necessary, We will confirm in writing the matters discussed and any agreed action.
19.3.6.28 The formal communications set out above are the minimum required to comply with auditing standards. We shall of course contact you on a more frequent and regular basis regarding the audit.
19.3.6.29 We shall not be treated as having notice, for the purposes of Our audit responsibilities, of information provided to members of our firm (principals and staff) other than those engaged on the audit, for example information provided in connection with accounting, taxation and other services).
19.3.7 Disengagement Procedures
19.3.7.1 On major audits as defined by the Financial Reporting Council We are required on resignation or removal as auditors to issue a report to their Professional Oversight Team (POT) and on non-major audits we are required to issue a report to the Institute of Chartered Accountants in England and Wales (ICAEW) if we resign or are removed midterm. This report is a copy of the report that we will deposit at your registered office; it will also explain why We have ceased to be the Company’s auditors if this is not evident from that report.
19.3.7.2 Where We have a duty to make a report to the POT or the ICAEW, You also have a reporting duty as directors. You may either send a copy of the report that We deposit at your registered office, or alternatively You may issue your own report. We will also comply with our duties under s519 of CA 2006, and reserve the right to report to the members and creditors any matters in relation to the cessation that need to be brought to their attention.
19.3.7.3 In the event that We cease to act as Statutory Auditors for the Company we are required by audit regulation 3.09 to make available, if requested, all relevant information concerning the audit of the Company to our successors as Statutory Auditors. You agree to cover any reasonable costs of making such information available that we may incur in fulfilling our duty.
19.3.8 Limitation of Liability
19.3.8.1 Unless otherwise agreed in writing, Clauses 10.5, 10.6, 10.7, 10.8 and 10.9 of the Terms (Limitation of Liability) do not apply in respect of statutory audit work. In addition, for statutory audit work, You agree to hold harmless and indemnify Us and Our partners, directors and staff against any misrepresentation, whether intentional or unintentional, supplied to Us orally or in writing in connection with this agreement.
19.3.8.2 You agree that You will not bring any claim in connection with the Services provided to You by Us against members of our firm (including partners, directors and employees) other than the statutory auditor, on a personal basis.
19.3.9 Regulation
19.3.9.1 Azets Audit Services Limited is a firm of Statutory Auditors, registered to carry out audit work in the UK by ICAEW and eligible to conduct audits under the CA 2006. Our audit work is conducted in accordance with the Audit Regulations and Guidance published by the Institute of Chartered Accountants in England and Wales which can be found at https://www.icaew.com/regulation/working-in-the-regulated-area-of-audit/audit-regulations-and-guidance
19.3.9.2 When conducting audit work We are required to comply with the Ethical Standard for Auditors, which can be accessed on the internet at: https://www.icaew.com/technical/trust-and-ethics/ethics/icaew-code-of-ethics/icaew-code-of-ethics#:~:text=Structure%20of%20the%20Code&text=Integrity,Confidentiality. Details about Our audit registrations can be viewed at www.auditregister.org.uk for Azets Audit Services Limited under reference number C004632199.
19.3.9.3 As part of Our ongoing commitment to provide a quality service, Our files are periodically reviewed by an independent regulatory or quality control body. These reviewers are highly experienced professionals and are bound by the same rules of confidentiality as Our directors and staff.
19.4 Regulatory Information for FCA Regulated Businesses
19.4.1 Terms concerning Regulatory Information for FCA Regulated Businesses, see: https://www.azets.com/en-uk/terms-of-business/service-specific-terms/regulatory-information-for-fca-regulated-businesses
19.4.2 Clauses 10.5, 10.6, 10.7, 10.8 and 10.9 of the Terms (Limitation of Liability) may not apply in respect of FCA regulated services provided by our FCA Regulated Businesses. Variations to these terms, if relevant, will be included in the Engagement letter or specific Schedule of Services issued in respect of such Services.
19.5 USA Foreign Account Tax Compliance Act (FATCA)
19.5.1 Terms where Our Services relate to USA Foreign Account Tax Compliance Act (FATCA), see: https://www.azets.com/en-uk/terms-of-business/service-specific-terms/fatca.
19.6 Accounting Software
19.6.1 Azets provided Cloud Accounting Software:
19.6.1.1 Where we provide your Cloud Accounting Software license Your right to access and use the Cloud Accounting Software will begin on the date that We provide You with access credentials to the cloud accounting software and will terminate when (i) terminated by either Party in accordance with the agreement;(ii) immediately following our formal disengagement; or (iii) or as agreed in the Schedule of Services or Annex or otherwise in writing.
19.6.1.2 We will recharge the cost of the Cloud Accounting Software to you at the price set out in Our quote to You or as otherwise agreed in writing. You agree that this price is subject to change at any time as per the RRP of the third party provider.
19.6.1.3 Should You request Us to transfer the subscription to the Cloud Accounting Software to You, we can do so. Notwithstanding the date of transfer, You will be invoiced by us for the full months subscription fee.
19.6.1.4 You may terminate Your subscription to the Cloud Accounting Software by providing Us with thirty (30) days prior written notice. Notwithstanding the date of termination, You will be invoiced by us for the full months subscription fee.
19.6.1.5 In the event you require software support in relation to the cloud accounting software provided by us, you can request support from the third party provider directly through the cloud accounting software or you may contact us for assistance.
19.6.1.6 We will provide a nominated User with administration rights to Your Cloud Accounting Software account. You are solely responsible for the administration of the account including adding and removing User access to the Cloud Accounting Software, including where such User has left Your organisation.
19.6.2 Our access to accounting software provided by You:
19.6.2.1 Where You provide Us with access to Your accounting software to deliver Our Services to You, notwithstanding anything to the contrary contained herein, You are solely responsible for maintaining and securing the accounting software and We shall have no liability to you for any short-comings or failings of any kind in relation to the accounting software. We agree to promptly notify You of any issues We experience with the accounting software in the performance of our Services.
19.6.2.2 Where applicable, Our ability to perform the Services is dependent on timely access to the accounting software. We shall not be responsible for any delays in the performance of the Services as a result of Your delay to administer access for Our Users.
19.6.2.3 You expressly acknowledge that We are not responsible for providing any maintenance or support services in relation to the accounting software provided by You and You are solely responsible for ensuring you have the necessary agreement in place with any third party service provider for the provision of maintenance and support.
19.6.2.4 You are responsible for the security and integrity of the data, documents and information stored in the accounting software and shall retain a back-up copy of all data, documents and information separate from the accounting software. We shall not be liable for any loss or corruption of any data, documents or information stored in the accounting software.
19.6.2.5 You are responsible for removing Our access to the accounting software following conclusion of Our Services to You.
19.7 Probate
19.7.1 Terms specific to a probate engagement, see: https://www.azets.co.uk/about-us/policies-legal/terms-specific-to-probate/.