Document background
The Financial Consulting Engagement Letter is a critical document used in the Australian professional services industry to formalize the relationship between financial consultants and their clients. This document is essential when engaging in financial advisory, consulting, or strategic services, ensuring compliance with Australian regulatory requirements including ASIC regulations, the Corporations Act 2001, and professional standards. The letter typically outlines the scope of services, professional fees, terms of engagement, and respective obligations of both parties. It serves as a protective measure for both the consulting firm and the client by clearly defining expectations, deliverables, and limitations of the engagement while adhering to Australian legal and regulatory frameworks. The document is particularly important in the context of financial services reform and increased regulatory scrutiny in the Australian market.
