Terms and Conditions

Background

Nordhov is a member of FAR, the organization for the accounting and auditing industry. Among other tasks, FAR is responsible for developing common documents such as engagement letters and general terms and conditions. The primary purpose of the engagement letter is to increase the parties’ understanding of the service’s content and to clarify each party’s rights and obligations in the engagement relationship. To avoid misunderstandings, etc., it is in both parties’ interest to use written engagement letters, which must be signed by both parties.

Furthermore, a written engagement letter is a requirement for FAR members. The engagement letter documents and confirms that the contractor undertakes the assignment. At the same time, the client confirms the purpose and scope of the assignment, as well as any other specific conditions that shall apply to the assignment.

Our industry organization FAR is now introducing new updated terms and conditions, effective from 2022:1.