2026 General Terms for Quotations and Engagements

Al Basma Accounting & Bookkeeping

The following terms form an integral part of any quotation or engagement entered into during 2026 between Al Basma Accounting & Bookkeeping and the contracting party, unless otherwise agreed in writing.

These terms apply to quotations and engagements issued or entered into during 2026 and shall remain applicable throughout the term of the engagement unless amended or replaced by written agreement.

1. General Terms

• The parties shall maintain the confidentiality of all engagement data, documents, and details and shall not disclose them to any third party except to the extent necessary to perform the agreed services, with the consent of the relevant party, upon request by a legally competent authority, where disclosure is required by a legal or professional obligation, or for the purpose of submitting or approving transactions and documents before governmental, tax, regulatory, or other relevant authorities.
• If either party wishes to terminate the engagement, the other party must be notified in writing at least one month before the requested termination date, unless a different notice period is stated in the quotation or agreement. Termination shall not affect fees due for work already performed or obligations and procedures that became due before the effective termination date.
• In the event that agreed fees are not paid on time, Al Basma shall have the right to suspend the performance of the services until the outstanding amounts are settled. Al Basma may also terminate the engagement after notifying the contracting party, without affecting its right to collect fees due for work already performed.
• Al Basma performs the work based on the documents, data, and information provided by the contracting company. The contracting company shall be responsible for the accuracy and completeness of such documents and information.
• Any additional work not included in the original quotation or agreement shall be agreed upon and priced separately.

2. Accounting, Bookkeeping, and Records Terms

• Al Basma’s team shall perform bookkeeping and organize accounting records in accordance with the scope of work specified in the quotation or agreement and based on the documents, data, and information provided by the contracting company.
• The contracting company remains responsible for the business transactions it conducts and for the validity of the supporting documents. It shall provide sales and purchase invoices, bank statements, payroll information, expense records, contracts, and any other documents required to record the accounting transactions.
• At the commencement of the engagement, opening balances and balances relating to prior periods shall be based on the records and information provided by the contracting company or its previous accountant or service provider. Such balances shall not be considered reviewed or audited by Al Basma unless their review or reconstruction is expressly included in the agreed scope.
• The contracting company shall provide the required documents and information in a timely manner to enable accounting entries, period-end closing, and reports to be completed. Any delay in providing such information may delay completion of the work or reports, and Al Basma shall not be responsible for consequences arising directly from that delay.
• Where an accounting treatment depends on management estimates or internal information, including inventory, work in progress, percentage of completion, provisions, assets, payroll, or related-party transactions, entries shall be recorded based on information approved by the contracting company’s management, which remains responsible for the accuracy of such information and assumptions.
• Bank, customer, supplier, and other reconciliations shall be performed using the records, statements, and confirmations available. Where old, unsupported, or unexplained differences exist, Al Basma shall bring them to the contracting company’s attention, and their investigation or correction may be treated as additional work if it exceeds the agreed recurring service scope.
• Recurring accounting services do not include reconstruction or correction of accounting records for periods before the commencement of the engagement, or the correction of material accumulated errors or differences from prior periods, unless otherwise agreed. Such work shall be treated as additional services with a separately agreed scope and fee.
• Where the services are performed using the contracting company’s accounting software or electronic systems, the company shall provide suitable access rights, maintain access to the system, protect login credentials, and maintain appropriate backups, unless other arrangements are agreed in writing.
• Original documents shall not be removed from the contracting company’s premises for any reason unless expressly approved by the company owning the documents.
• Al Basma’s team performs accounting and record-keeping work without receiving, managing, or controlling any cash amounts or cash custody belonging to the contracting company.
• If the contracting company hands over cash or cash custody to any individual, responsibility for such handover shall remain with the company that made the handover. Al Basma shall not be responsible toward any third party for such amounts. However, Al Basma shall cooperate fully when required to clarify any related data or documents.
• Al Basma’s responsibility for accounting reports and data prepared by it shall be limited to the documents and information made available to it. Al Basma shall not be responsible for consequences arising from information or documents concealed or not provided by the contracting company.

3. Consultancy Reports Terms

• Consultancy reports are prepared by Al Basma based on the documents, data, and information provided by the contracting company and within the agreed purpose and scope stated in the quotation or agreement.
• The report is prepared for the agreed purpose and shall not automatically be considered prepared for any other purpose or for use by a third party that was not within the stated purpose, unless otherwise agreed in writing.
• Al Basma shall be responsible for preparing the report according to the agreed purpose and based on the documents delivered to it. Where required, the report may be approved by a competent or approved third party depending on the intended use or purpose of the report.
• Upon agreement to prepare a consultancy report, 50% of the agreed fee shall be paid as an advance payment upon commencement of work, and the remaining amount shall be paid after approval of the draft report by the contracting party and before issuance of the final report.
• Any draft report provided during the engagement is for review and discussion only, is not a final report, and may not be relied upon or submitted to third parties as the final version before the final report is issued.
• If, after commencement of work, the contracting party requests a change in the purpose of the report or the addition of companies, parties, transactions, financial periods, documents, or analyses not included in the original scope, such work shall be treated as additional work and the scope, fees, and completion period may be revised.
• If the contracting party fails to provide the required documents or data within the appropriate time, any delay in completion shall be the responsibility of the contracting party. Al Basma may suspend the work or terminate the engagement according to the circumstances of the project, and the advance payment shall be treated as consideration for work already commenced where work has actually begun.
• If, during preparation of the report, incorrect data, concealment of material documents, or information affecting the reliability of the report is identified, Al Basma shall have the right to suspend the work and refrain from issuing the report while explaining the reasons to the contracting party. In such case, 50% of the report value shall be charged for work performed unless the value of work actually performed is higher under the agreed scope.
• Preparation or issuance of a report does not guarantee its acceptance by a court, bank, government authority, free zone, investor, financier, or any other third party. Acceptance and use of the report remain subject to the requirements and decision of the receiving party.
• Where a report contains estimates, forecasts, future assumptions, or calculations based on scenarios provided by the contracting company, such information is based on the data and assumptions available at the time of preparation and does not constitute a guarantee of future results.
• The report shall be prepared using information available up to a specified date. Al Basma is not required to update the report for information, documents, or events arising after its issue date unless an update or additional report is separately agreed.
• Preparation of the report does not automatically include attendance at meetings, hearings, negotiations, provision of testimony or explanations, or additional responses to authorities or other parties after issuance. Such work shall be charged separately unless expressly included within the agreed scope.

4. Financial Statements and Balance Sheet Terms

• Financial statements and balance sheets shall be prepared based on the records, data, and documents provided by the contracting company, according to the nature and purpose of the required financial statements and the agreed scope of work.
• The contracting company’s management remains responsible for the accuracy of the accounting records, transactions, balances, and underlying information on which the financial statements are based, and for approving information and estimates requiring management judgment or decision.
• Financial statements shall be prepared using the agreed or required accounting framework or basis according to the nature of the company and the intended purpose. Preparation of the financial statements does not in itself constitute an independent audit or review unless a separate audit or review service has been contracted.
• Comparative figures, opening balances, and prior-period balances shall be based on the records or financial statements provided by the contracting company and shall not be considered reviewed or audited by Al Basma merely because they are included in the current financial statements, unless their review has been separately agreed.
• The required form of approval for the financial statements shall be determined based on the company’s needs, whether for a free zone, bank transaction, government authority, or another relevant party. Final acceptance remains subject to the requirements of the receiving authority or party.
• If the receiving authority requires a signature or report from a licensed auditor or approval by another third party, such approval shall be arranged in accordance with the agreed scope. Third-party fees, attestation fees, translation charges, and external authority fees are not included unless expressly stated in the quotation.
• 50% of the agreed fee shall be paid upon engagement, and the remaining amount shall be paid upon issuance of the draft financial statements. Failure to pay on time shall constitute grounds for suspension of the work, subject to the general provisions relating to outstanding fees and termination.
• If the records are found to be incomplete or require reconstruction, reconciliations, or material corrections before the financial statements can be prepared, such work may be treated as additional services with a separately agreed scope and fee.
• Material amendments requested after preparation of the draft because of newly provided documents, changed data, or accounting treatment not available when the draft was prepared may be treated as additional work if they exceed the original scope.
• Preparation of financial statements does not automatically include preparation, review, or filing of tax returns, tax registrations, or tax applications unless such services are expressly included in the quotation or agreement.
• Al Basma shall not be responsible for consequences arising from incomplete, inaccurate, or concealed data or documents provided by the contracting company.

5. Financial Statement Audit Terms

• Financial statement audit work consists of the examination and review of the documents, records, and financial statements in accordance with the agreed scope and applicable professional standards. It does not include bookkeeping, data entry, or reconstruction of accounts unless separately agreed and only to the extent permitted by applicable professional requirements.
• The contracting company’s management remains responsible for preparing the accounting records and financial statements, for the accuracy and completeness of the data, documents, and explanations provided, and for the company’s internal control environment, operations, and risk management.
• The contracting company shall provide timely access to records, documents, contracts, systems, employees, information, and explanations required to perform the audit work and to enable completion in accordance with the agreed timetable.
• If the audit requires confirmations from banks, customers, suppliers, lawyers, or other parties, the contracting company shall cooperate in issuing the necessary requests or authorizations. Al Basma shall not be responsible for delays caused by non-response from external parties.
• If the scope requires attendance at inventory, asset, or cash counts or other field procedures, the timing and location must be coordinated sufficiently in advance. Additional fees may apply to attendance or procedures outside the agreed locations, timing, or scope.
• The completion date of the audit and issuance of the report depend on timely receipt of the required records, documents, and explanations. The completion date may be revised if the contracting company delays providing them.
• If sufficient and appropriate documents, evidence, or information cannot be obtained, or if material limitations on the scope of work exist, such matters shall be dealt with in accordance with the applicable professional requirements and may affect completion of the work, the content of the audit report, or the opinion expressed.
• An audit engagement does not guarantee issuance of an audit report or opinion in a particular form expected by the contracting company. The report and opinion shall be determined by the results of the audit procedures, the available evidence, and the applicable professional requirements.
• If, before or during the audit, the records are found to require reconstruction, correction, or material adjustments before they are auditable, the necessary work and related fees shall be separately agreed and the commencement or completion of the audit may be postponed.
• Responsibility for preventing and detecting fraud or manipulation and for maintaining an appropriate system of internal control rests with the contracting company’s management. Audit work does not replace management’s responsibilities or internal controls.
• Audit work may include annual, semi-annual, or special-purpose reports and certain observations or financial indicators only where such work is included in the agreed scope.
• If the user of the report requires translation, attestation, certification, a special form, or third-party services or fees, such costs shall not be included in the audit fee unless expressly stated otherwise in the quotation or agreement.
• Where legislation or the intended user requires an audit report to be issued by a licensed or registered auditor, the report shall be issued or approved by the appropriately qualified auditor in accordance with the agreed arrangements and scope of work.

6. Tax Agency and Tax Services Terms

• Tax agency and tax services shall be performed in accordance with the scope of work specified in the quotation or agreement with the contracting company. The engagement does not include any other tax services or procedures outside the agreed scope unless separately agreed.
• The appointment of Al Basma to provide tax agency or tax representation services does not relieve the contracting company or taxable person from its responsibilities and obligations under the applicable tax legislation of the United Arab Emirates.
• The contracting company shall be responsible for the accuracy, completeness, and correctness of all data, information, documents, and records provided for tax registration, preparation of tax returns, applications, correspondence, or any other tax procedures.
• Al Basma may rely on the data, documents, and information provided by the contracting company unless there are reasonable grounds to believe that such information is inaccurate or incomplete. In such circumstances, Al Basma may request additional documents, explanations, or supporting evidence before taking any tax-related action.
• The contracting company shall provide the required documents and information sufficiently in advance of statutory deadlines for registration, filing returns, submitting applications or responses, or paying taxes. Al Basma shall not be responsible for penalties or consequences arising directly from delays by the contracting company in providing the required documents or information, or from inaccurate or incomplete information supplied by the contracting company.
• Tax returns, applications, and tax correspondence shall be prepared based on the information available. It may be agreed that such documents will be submitted to the contracting company for approval before filing with the Federal Tax Authority, or that Al Basma will be authorized to file them in accordance with the agreed mandate or authorization.
• The submission of any application, tax return, objection, clarification, refund request, or other tax transaction does not constitute a guarantee that it will be accepted by the Federal Tax Authority. The final decision remains subject to the Authority and the applicable legislation and procedures.
• Al Basma shall maintain the confidentiality of information and data obtained while providing tax services, subject to its right and obligation to provide information, documents, and records to the Federal Tax Authority or any competent authority where required by law.
• The contracting company may not require Al Basma to prepare or submit information, returns, or transactions known to be incorrect, or to participate in any action or arrangement that violates applicable tax legislation. Al Basma shall have the right to refuse such action or suspend the service if the information cannot be corrected or the violation cannot be remedied.
• Tax agency and tax service fees do not include taxes, penalties, government fees, filing fees, translation or attestation fees, or fees charged by third parties, unless expressly stated otherwise in the quotation or agreement.
• Tax agency services do not include a review of previous tax periods, returns, registrations, or transactions completed before commencement of the engagement, unless such review is expressly included within the agreed scope of work.
• Periodic tax agency fees do not include attendance at tax audit sessions or meetings conducted by the Federal Tax Authority, whether at the contracting company’s premises, at the Authority, or remotely. They also do not include the preparation of files, analyses, reconciliations, detailed responses, or additional documents requested during a tax audit where such work exceeds the agreed scope of services. Such work shall be subject to separate fees agreed according to the nature and scope of the tax audit, unless the quotation or agreement expressly states that attendance at tax audit sessions and the related work are included within the agreed tax agency services.
• Termination or cancellation of the engagement with Al Basma does not in itself cancel the contracting company’s tax registration or terminate its tax obligations. The parties shall cooperate, where required, in completing procedures relating to the termination or amendment of tax representation or authorization.
• Tax agency services provided by Al Basma are independent professional services. Neither Al Basma nor any of its representatives shall be considered part of, or a branch of, the Federal Tax Authority.

7. Final Provisions

• These terms and conditions apply to quotations and engagements issued or entered into during 2026 and shall remain applicable throughout the term of the engagement unless amended or replaced by written agreement.
• These general terms shall be deemed agreed terms in all quotations and engagements issued by Al Basma unless otherwise agreed in writing.
• Acceptance of the quotation, commencement of work, or payment of the advance fee shall be considered acceptance of these terms.