Engagement letter
Definition
A written contract between the forensic accountant and the retaining party that defines the scope, deliverables, fee arrangement, confidentiality terms, and the identity of the client. It is the primary document that governs the relationship.
Related terms
- Attorney-client privilege
- A legal protection shielding confidential communications between an attorney and their client from compelled disclosure in litigation. A forensic accountant retained by...
- Independence
- The absence of any financial, personal, or advocacy relationship that would impair, or appear to impair, an expert's objectivity. Courts assess both...
- Litigation hold
- A formal instruction suspending the routine destruction of documents, electronic records, and other potentially relevant material. Failure to issue one promptly when...
- Scope creep
- The gradual expansion of an engagement beyond its original boundaries, often without a corresponding adjustment to the fee, timeline, or privilege structure....
- Work-product doctrine
- A rule protecting materials prepared by or for an attorney in anticipation of litigation. It is broader than attorney-client privilege and covers...
Explained in
- The Forensic Accounting EngagementA written contract between the forensic accountant and the retaining party that defines the scope, deliverables, fee arrangement, confidentiality terms, and th...