Terms of Engagement

1. Scope of Engagement

These Terms of Engagement ("Terms") govern the advisory, fractional CFO, technical accounting, and audit readiness services provided by Step1Advisors ("Advisor") to the client entity ("Client"). Each specific engagement is detailed in a written Engagement Letter or Statement of Work ("SOW") describing deliverables, reporting deadlines, and monthly fee retainers.

2. Professional Independence Standards

In accordance with international accounting ethics and professional auditor independence standards (including AICPA, ICAI, and FRC guidelines), Step1Advisors cannot perform statutory financial statement audits for any client whose books or financial ledgers we actively maintain during the same fiscal reporting period. We will plainly disclose our independence posture during scoping.

3. Client Responsibilities & Source Documentation

To enable our team to deliver audit-grade reporting on schedule (such as our standard Day 10 monthly close commitment), the Client agrees to:

• Provide prompt, unhindered access to corporate accounting software, bank accounts (view-only), payroll records, and billing platforms.
• Supply executing contracts, equity grant agreements, debt covenants, and material transaction notices without undue delay.
• Designate an authorized officer (CEO, COO, or Founder) responsible for final management review and approval of tax returns and financial statements.

4. Technical Accounting Memorandums & Audit Support

Technical accounting memos prepared under US GAAP (ASC 606, ASC 842, ASC 718), IFRS, or Ind AS represent our professional technical judgement based on documentation provided by the Client. While drafted to auditor-grade standards, the Client's independent external auditor retains final authority over statutory audit opinions. We will actively interface with external audit teams to defend documented positions.

5. Fees, Invoicing & Retainer Terms

Recurring advisory engagements operate on a fixed monthly retainer payable on the first day of each service month via Wire, ACH, or credit card. One-off technical conversion projects or audit readiness engagements are invoiced according to the milestone schedule agreed in the engagement letter.

6. Confidentiality & Proprietary Information

Both parties agree that all trade secrets, financial models, cap table structures, business forecasts, and proprietary software disclosed during an engagement shall remain strictly confidential and will not be disclosed to any outside party without prior written consent.

7. Term & Termination

Either party may terminate an ongoing monthly advisory retainer by providing 30 days' advance written notice. Upon termination, Step1Advisors will complete the final closed accounting period and deliver all working papers, reconciliation workbooks, and ledgers in clean order to the Client or successor controller.

8. Contact for Engagement Matters

Questions concerning these Terms of Engagement should be addressed to our managing partners: