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NAMA Forum Business Plan V2 Training. Engagement Risk Consideration Points. N íall Fitzgerald Practice Consulting 01 – 637 7382. title goes here. This is your clients…. .....most important kick in the game. Three Key levels of Engagement. Hands off Advisory Role

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  1. NAMA Forum Business Plan V2 Training Engagement Risk Consideration Points Níall Fitzgerald Practice Consulting 01 – 637 7382 title goes here

  2. This is your clients… • .....most important kick in the game

  3. Three Key levels of Engagement • Hands off Advisory Role • Management of Preparation of Plan • Facilitator on the full NAMA Process

  4. Even the most accomplished professional… • ...can miss the most obvious risk

  5. Every great achievement… • ...started with a piece of paper

  6. Everybody is liable…. • ....but nobody is to blame!

  7. No one has a corner on success… • ..It is his who pays the price

  8. What is the shortest word in the English Language… • ....That contains the letters “ABCDEF”?

  9. Progress payments, especially in advance… • ...are now the norm across many professions

  10. Investment Business Authorisation: • ...are you engaging in corporate finance advice? • (e.g. advising on valuation of shares?)

  11. Sample Paragraph in Engagement Letter re Corporate Finance: • As part of the continuing professional services detailed in this letter, we may periodically be asked for, and give, investment advice which is an incidental part of those other services. We are regulated in our conduct of Investment Business Regulations issued by the Institute of Chartered Accountants in Ireland which is an Approved Professional Body under the Investment Intermediaries Act 1995 • We would advise you that there are risks attached to all types of investment and any recommendations made by ourselves do not give an express or implied warranty or guarantee relating to the financial return of the particular investment recommended.

  12. Contd: Sample Paragraph in Engagement Letter re Corporate Finance: • In the case of the corporate client some of the services which we may provide would be regarded as being carried on for a corporate finance client or non private client in the course of corporate finance activities. The meaning of these terms is set out below. Under the Investment Business Regulations services provided as part of such activities are subject to a system of regulation which differs in certain material respects from that for investment business generally. • If you agree to be treated as a corporate finance client or non private client then in respect of investment business carried on as part of such activities you will enjoy the general protection afforded to a corporate finance client or non private client rather than the protection which may be appropriate in other circumstances.

  13. Contd: Sample Paragraph in Engagement Letter re Corporate Finance: • We are satisfied that we may properly regard you as a corporate finance client or non private client and by signing this letter on behalf of the company you agree to be treated as a corporate finance client. • Corporate finance activities include: •   general corporate and financial advice or assistance to a business or its associates; • valuations or appraisals of assets, businesses or investments; • raising finance; • management buyouts or buy ins; • company restructuring.

  14. Contd: Sample Paragraph in Engagement Letter re Corporate Finance: • A corporate finance client or non private client is any client, whether a company, association, partnership, individual or group of individuals, for whom we perform corporate finance activities, provided that the client has agreed the terms of, and signed, a corporate finance engagement letter.

  15. Representation… • ...of the facts

  16. De-Engagement Letters:

  17. Engagement Letter Helpsheet • www.charteredaccountants.ie/practice-consulting • Helpsheets

  18. Thank You • Níall Fitzgerald – Practice Consulting (01) 637 7382 • Niall.Fitzgerald@charteredaccountants.ie

  19. ACR– Have you completed your Annual Compliance Review? • Top 5 reasons to get Practice Consulting complete your ACR and IBCR: • Expertise – Let your expertise benefit from Practice Consulting cutting edge knowledge and experience of where the real risks and problems can be avoided in an audit file • Profitable – Our file reviews are completed with an official report outlining not only compliance points but also areas where efficiency can be increased • Fee – Our rates cannot be beaten for value! • Reality – Practice Consulting simulate a regulator type approach so you are prepared and know what to expect from a CARB visit. • Support - Our Service does not stop once the report is issued. We are on hand to assist in implementation of measures in the practice if required. Overheads • Our experience and service is unrivalled having completed hundreds of file reviews, written many audit programmes – including the first Clarity PQA on the market, coached many firms and dealt with thousands of front end practitioner queries. • Order by Contacting Níall Fitzgerald on (01) 637 7382

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