Document background
The Compilation Engagement Letter is a crucial document used when a client engages an accounting firm to compile financial information without providing assurance on that information. This document, governed by Irish law, establishes the professional relationship between the accounting firm and the client, outlining the nature, scope, and limitations of the compilation services. It incorporates requirements from ISRS 4410, Irish Companies Act 2014, data protection legislation, and anti-money laundering regulations. The letter is particularly important as it clarifies that the engagement does not constitute an audit or review engagement, thus setting appropriate expectations for all parties involved. It should be used whenever a business requires professional assistance in compiling financial information while ensuring compliance with Irish regulatory requirements.
