Our standard terms of engagement may change from time to time where we consider it necessary or appropriate to do so and as such a current version of those terms can be found on our website, www.trca.com.au. If your engagement is recurring and you do not accept such amendments, you must notify us promptly, in which case you may terminate our engagement in accordance with the Termination clause below, and those amendments will not apply prior to such termination.

Who may instruct us
You confirm that you, and any other person you nominate, are authorised to give us instructions and information on behalf of all persons we are acting for and to receive our advice and documents on their behalf.

If we are acting for a business, and we receive conflicting advice, information, or instructions from different persons, we may refer the matter to the board of directors, partners or proprietors (as applicable) and act only as requested by them.

Who We Act For
We act for you or agreed entity/ies only. Where you would like us to act for any other person or entity, we will issue a separate engagement in relation to that person or entity.

Purpose, Scope and Output of the Engagement
Tilbrook Rasheed will provide accounting and/or taxation and/or business advisory services as agreed upon which will be conducted in accordance with the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB). The extent of our procedures will be limited exclusively for this purpose. As a result, no audit or review will be performed and, accordingly, no assurance will be expressed. Our engagement cannot be relied upon to disclose irregularities including fraud, other illegal acts and errors that may exist. However, we will inform you of any such matters that come to our attention.

Our professional services are conducted, and any reports required will be prepared, for distribution to the relevant specific organisation or party for the purpose specified in the report or as agreed and accordingly cannot be relied upon by another parties or for any other purpose.

We will endeavour to record all advice on important matters in writing. Advice given verbally is not intended to be relied upon unless confirmed in writing. If we provide verbal advice (for example during a meeting or telephone conversation) that you wish to rely on, you must ask us to confirm the advice in writing.

Client Responsibilities
Clients are required to arrange for reasonable access by us to relevant individuals, including third parties, and documents, and are responsible for both the completeness and accuracy of the information supplied to us. We will rely on such information being true, correct and complete and will not audit the information.

You must keep us informed on a timely basis of changes in your circumstances that may affect our services.

The Taxation Administration Act 1953 contains specific provisions that may provide you with “safe harbours” from administrative penalties for incorrect or late lodgement of returns if, amongst other things, you give us “all relevant taxation information” in a timely manner (the safe harbour provisions apply from 1 March 2010). Accordingly, it is to your advantage that all relevant information is disclosed to us as any failure by you to provide this information may affect your ability to rely on the “safe harbour” provisions and will be taken into account in determining the extent to which we have discharged our obligations to you.

Communication
You must advise us of any changes to your contact details. We may send communications to the last contact details you have provided. Unless you instruct us otherwise, we may, where appropriate, communicate with you and with third parties via email or by other electronic means. The recipient is responsible for virus checking emails and any attachments. There is a risk of non-receipt, delayed receipt, inadvertent misdirection or interception by third parties in any form of communication, whether electronic, postal or otherwise. We are not responsible for any such matters beyond our reasonable control.

Your Rights and Obligations Under the Taxation Laws
You have certain rights under the taxation laws, including the right to seek a private ruling from the Australian Taxation Office (ATO) or to appeal or object against a decision made by the Commissioner. As relevant, we will provide further information to you concerning your rights under the Australian taxation laws during the conduct of the engagement contemplated by this letter.

You also have certain obligations under the Australian taxation laws, such as the obligation to keep proper records and the obligation to lodge returns by the due date.

Investment and Financial Advisory Advice
We will not provide you with investment or financial advice regulated under the Corporations Act 2001 (Cth) unless we have expressly agreed to do so in writing, specifying an applicable Australian Financial Services Licence number.

Our Obligations to Comply with the Law
We have a duty to act in your best interests. However, the duty to act in your best interests is subject to an overriding obligation to comply with the law even if that may require us to act in a manner that may be contrary to your interests. For example, we cannot lodge an income tax return for you that we know to be false in a material respect.

We will comply with the professional and ethical standards of the Accounting Professional and Ethical Standards Board, including APES 110 Code of Ethics for Professional Accountants (including Independence Standards).

Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Obligations
Where we provide you with a “designated service” under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), Tilbrook Rasheed as a reporting entity must comply with our obligations to AUSTRAC. This includes identifying and verifying your identity, sources of funds, and where applicable the identity of any beneficial owners, trustees, or persons who own or control an entity or arrangement we act for.

Customer due diligence is not a one-off requirement. We may request updated information from you during the course of the engagement, including where there is a change in ownership or control, a change in the nature or purpose of the engagement, or other circumstances that affect our risk assessment.

Conflicts of Interest
We also have an obligation to ensure that we manage conflicts of interest as they arise. We will inform you if we become aware of any conflict of interest in our relationship with you (including between the various persons this engagement covers) or in our relationship with you and another client. Where conflicts are identified which cannot be managed in a way that protects your interests, we may be unable to provide further services to some or all of the persons to whom this engagement applies. If this arises, we will inform you promptly.

We may act for other clients whose interests are not the same as, or are adverse to, yours, subject to the obligations of conflicts of interest above and confidentiality referred to below.

The effective operation of our conflict management arrangements depends, in part, on you complying with your obligation to disclose any potential conflicts of interest to us.

Confidentiality
In conducting this type of engagement, information acquired by us in the course of the engagement is subject to strict confidentiality requirements. We understand that some information provided to us is of a confidential nature including protecting personal information in accordance with our Privacy policy. We take all reasonable steps and implement appropriate technical and organisational measures to protect and safeguard your confidential information, including any personal information, from unauthorised access, use, disclosure, loss or misuse. There maybe circumstances where;

• we need to disclose your information to our service providers (including auditors of client monies, if applicable) or regulatory bodies in performing the services, our professional advisers or insurers, or as part of an external peer review from time to time. This includes the quality control review program referred to under Client Responsibilities above, and any other bodies to which our files may be made available for review;
• we are required by law, regulation, a court of competent authority, or the professional obligations referred to above, to disclose the information. This includes disclosures required under anti-money laundering and counter-terrorism financing legislation, and you acknowledge that such disclosures may be made without notice to you where the law prohibits notification;
• we provide limited information (but only to the extent reasonably necessary) to potential purchasers, or their professional advisers, of our practice, but we will take reasonable steps to ensure that any such recipient keeps the disclosed information confidential;
• we use deidentified information for internal training purposes, in the development of products or technology, in research, or as source material for industry or other benchmarking data or studies; or
• you give us permission to disclose the information.

We may retain your information during and after our engagement to comply with our legal requirements or as part of our regular IT back-up and archiving practices. We will continue to hold such information in confidence and remain bound by our confidentiality obligations in respect to any information retained for archival purposes.

We wish to advise that our firm’s system of quality control has been established and maintained in accordance with the relevant APESB standard. As a result, our files may be subject to review as part of the quality control review program of the Institute of Chartered Accountants, which monitors compliance with professional standards by its members. We advise you that by accepting our engagement you acknowledge that, if requested, our files relating to this engagement will be made available under this program. Should this occur, we will advise you. Any disclosure will be limited to the minimum information reasonably required to comply with the request and any applicable legal, regulatory or professional obligations.

Privacy
Tilbrook Rasheed is committed to protecting your privacy and handling your personal information, including sensitive information, in an open and transparent way. Where you provide us with personal information about any other individuals (for example, employees, related entities, or beneficial owners), you must make all necessary notifications and obtain any necessary consents for us to collect,use and retain that information.

We collect and use personal information for the purposes of providing the services described in your engagement, and we will comply with the Privacy Act 1988 (Cth) when processing that information.

Further information on our Privacy Policy is available by clicking here.

Outsourced Service Providers and Data Transfers
In the course of providing our services, we may disclose confidential information, including personal information, to third-party service providers located both inside and outside of Australia.

Tilbrook Rasheed is committed to protecting your confidential information and the privacy of personal information. We take reasonable steps to ensure that our employees and any third-party service providers respect the confidentiality of the personal information we hold.

For more information on our third party providers and service providers – please refer to our Privacy Policy.

Use of Artificial Intelligence (AI)
We may use Artificial Intelligence (AI) and other technology-assisted tools in providing our services to you. Such tools may be used to support activities including but not limited to quality assurance, research, drafting, analysis and administrative processes.

Where we use AI or other similar technologies in the provision our services:

• your Confidential Information, including personal, will not be used to train, develop or improve any public AI model, in fulfilling our obligations under this engagement.
• we will do so in a manner consistent with our professional and ethical obligations;
• we will take reasonable steps to protect the confidentiality and security of your information;
• we will exercise professional judgment and appropriate human oversight and quality control procedures in relation to any material output generated using AI;

Limitation of Liability
Our liability is limited by a scheme approved under Professional Standards Legislation. Further information on the scheme is available by clicking here (CAANZ Limited Liability Capping Scheme) or going to the CAANZ website (Operation of the Limitation of Liability Scheme) by clicking here.

You agree not to bring any claim against any of our directors, shareholders or employees in their personal capacity.

To the maximum extent permitted by law, we are not liable to you for indirect, special or consequential losses or damages of any kind, or for liability arising due to the acts or omissions of any other person or circumstances outside our reasonable control, or your breach of these terms.

Fees
Our fees are calculated based on the amount of time taken by our staff, at the level required to complete the services, at their respective hourly rates. Any fee estimate provided is an indicative guide only. We may provide a fixed fee for the provision of specific services; if it becomes apparent to us, due to unforeseen circumstances, that a fixed fee is inadequate, we may notify you of a revised figure and seek your agreement to it.

In some cases, you may be entitled to assistance with your professional fees, particularly in relation to any investigation into your tax affairs by the ATO. Assistance may be provided through insurance policies you hold or via membership of a professional or trade body. Other than where such insurance was arranged through us, you will need to advise us of any such insurance cover that you have. You will remain liable for our fees regardless of whether all or part are to be paid by someone else.

We will bill you in accordance with the arrangements agreed with you, and our invoices are due for payment 14 days after presentation. Our fees are exclusive of GST, which will be added to our invoice where chargeable. Any disbursements and expenses we incur in the course of performing our services or recovering our fees will be added to our invoices where appropriate. Unless otherwise agreed to the contrary, our fees do not include the costs of any counsel, or other professionals or third parties engaged with your approval.

We may charge interest on overdue invoices at the rate of the Reserve Bank of Australia cash rate plus 5%. We may also suspend our services, or cease to act for you, on giving written notice if payment of any fees is unduly delayed. We intend to exercise these rights only where it is fair and reasonable to do so.

Where we withhold or otherwise expect a client tax refund to settle our fees, we will only do so with your written agreement.

Ownership of Documents
All original documents obtained from the client arising from the engagement shall remain the property of the client. However, we reserve the right to make a reasonable number of copies of the original documents for our records.

The ownership of the reports produced and supplied to you as our client as output for the engagement, such as financial statements and tax returns, and supplied to you as a client including, if applicable, electronic documents or files, will vest in you on payment of services.

We own the copyright and all other intellectual property rights in everything else we create in connection with the engagement, including all working papers (in any form, whether physical or electronic), which remain our property and are retained in accordance with our normal record-keeping practices and our professional and legal obligations. Unless we agree otherwise, anything we create in connection with the engagement may be used by you only for the purpose for which you have engaged us.

You agree we can use your logos and trademarks for the sole purpose of providing advice and outputs to you in connection with the engagement, unless you tell us otherwise.

Lien
If permitted by law or professional guidelines, we may exercise a lien over all materials or records in our possession relating to all engagements for you until all outstanding fees and disbursements are paid in full.

Client Monies
We maintain a trust account for dealing with client monies on their behalf. We can only accept money into our trust account, and disburse it, on your behalf if you have provided us with a written trust account authority which details the authority given to us in relation to that trust money.

Termination
Each of us may terminate this engagement by giving not less than 21 days’ written notice to the other party, except where a conflict of interest has arisen, AML/CTF concerns arise, you fail to cooperate with us, or we have reason to believe that you have provided us or any other person with misleading or factually inaccurate information, in which case we may terminate this engagement immediately. Termination will not affect any accrued rights.

Governing Law
The agreement is governed by the laws of South Australia, and the parties submit to the exclusive jurisdiction of the courts of South Australia and any courts hearing appeals from those courts.

Confirmation of Terms
Acceptance of our services in conjunction with this information brochure indicates that you understand and accept the arrangements. This information will be effective for future engagements unless we advise you of any change or you choose to cease the engagement.