With cyber-attacks and data breach incidents growing in frequency, it is critical to ensure that your firm has taken all reasonable measures to protect your clients and the firm from hackers.
Consider the following questions. If your answer to any of them is "no," your firm may be vulnerable to hackers.
Engagement letters help improve communication with clients, document engagements, and protect you from litigation. By clearly defining an engagement’s scope and services, you can better avoid misunderstandings.
What you should do:
- State the purpose of the engagement
- Define the scope of the engagement (specifically what you will and won’t do)
- Specify known negative conditions or adverse situations
- Note client instructions, responsibilities, deliverables and dates
- Note reliance on facts provided by client