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An engagement letter defines the legal relationship (or engagement) between a professional firm (e.g., law, investment banking, consulting, advisory or accountancy firm) and its client(s). This letter states the terms and conditions of the engagement, principally addressing the scope of the engagement and the terms of compensation for the firm.
In joint representations, the information provided should include the interests of the lawyer and other affected clients, the courses of action that could be foreclosed due to the joint representation, the potential danger that the client's confidential information might be disclosed, and the potential consequences if the lawyer had to withdraw ...
A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement , term sheet or memorandum of understanding .
The representations letter covers all periods encompassed by the audit report, and is dated the same date of audit work completion. It is used to let the client's management declare in writing that everything is MRL and is sufficient and appropriate and without omission of material facts to the financial statements, to the best of the ...
Such material could take the form of an aide-mémoire, a letter, or a "non-paper" that provides a written version of the verbal presentation (i.e., the talking points as delivered). Unless otherwise instructed, the post should normally provide an aide-memoire or non-paper at the conclusion of a démarche.
The joint defense privilege, or common-interest rule, is an extension of attorney–client privilege. [1] Under "common interest" or "joint defense" doctrine, parties with shared interest in actual or potential litigation against a common adversary may share privileged information without waiving their right to assert attorney–client privilege. [2]
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