The compliance landscape is constantly changing. Reviewing those changes and understanding how they affect your engagement letters is a huge task. As an OverSuite subscriber, we do that for you formally on a quarterly basis and ad-hoc as changes arise.

What did we review?

This quarter we have reviewed…

  • Changes to the professional body regulations to understand their impact on the terms and conditions in your Engagement Letters;
  • The scopes and service schedules to ensure no changes to legislation that impact these.

What has changed?

No Required Legislative Changes

There have been no changes to the professional body regulations or legislation that require an update to your letters, so this quarter there’s nothing we need you to do.

We have tidied up your Privacy Notice to eliminate a small amount of duplication however there’s no need to re-issue these to your existing clients. The following wording was removed since it is covered elsewhere:

Privacy Notice [wording removed]

Your information may from time to time be transferred and/or processed outside the EEA. This will only be done where [I/we] have confirmed that the country to which your data has been transferred provides a level of personal data protection comparable to that provided in European law.

New Service Schedules

As part of the review we have added new service schedules to your OverSuite library that have been in demand:

  • LLP Accounts
  • Company Strike Off
  • Registration for Corporation Tax Return

What do you need to do? 

The Privacy Notice changes were minor and don’t require you to do anything. Your letters will have been automatically updated so just continue to issue your letters as normal.

As there were no legislative changes this quarter, there is nothing we need you to do.

What if I have previously amended updated content?

Where you have made direct amendments to any statements that were updated,  you can opt to retain your version or revert to the update.

Click here to learn is how you revert to the new updated version >>

“For over 30 years Valerie Steward has worked with accountancy practices, helping them to develop their businesses and remain compliant. She has authored and co-authored a number of technical guides, work programmes on audit and anti-money laundering and practical aids such as engagement letters as well as publications on practice management and the not for profit sector.”

Valerie StewardAt The Forefront Of Compliance For Over 30 Years

Discover more about OverSuite

Learn how to reduce your risk and meet the highest compliance standards with our suite of Smart Engagement Letters that evolve with regulatory changes & auto-update in GoProposal for you.

Discover More

Binocular photo by mostafa meraji on Unsplash

Danielle Fisher

Danielle Fisher

Danielle is a Senior Client Success Manager at GoProposal, supporting accounting and bookkeeping firms to meet their business goals through use of the GoProposal platform. She also oversees the development of OverSuite, liaising with our compliance experts to ensure that our engagement letters always reflect the highest levels of compliance excellence and protection.

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