DISCLAIMER – AGGREGATOR / INFORMATION SUPPORT SERVICES
Important Disclaimer Regarding Professional Responsibility, Due Diligence, Verification, Audit, Certification and Attestation
We operate solely as an information / data aggregation and support service provider. In the course of our work, we may compile, collate, organize, process, communicate or provide information, documents, data, references, leads, business details or other inputs received from clients, third parties or other available sources to Chartered Accountants (“CA”) or other professionals who may be directly or indirectly associated with, engaged by, referred to, or working with us.
Any information, document, data, reference, lead, statement, explanation or other material provided by us is provided only as an aggregator / facilitator and for information-support purposes and shall not be construed as an independent verification, validation, certification, audit, assurance, attestation, opinion or professional confirmation by us.
1. Independent Professional Due Diligence by CA
Where any CA or other professional receives or uses any data, document, reference, information, lead, explanation or other input provided by us, the concerned CA / professional shall independently examine, verify and evaluate such information before relying upon or using the same for any professional purpose.
The concerned CA / professional shall exercise appropriate professional skepticism, professional judgment, due diligence and reasonable verification procedures as required under the applicable laws, regulations, professional standards, ICAI standards/guidelines and the nature of the particular engagement.
The CA / professional shall independently determine whether the information provided is complete, accurate, genuine, reliable, adequate and appropriate for the purpose for which it is proposed to be used.
2. No Independent Due Diligence by Us
We generally do not undertake independent due diligence, audit, investigation, authentication, verification or validation of the clients, their documents, financial information, transactions, books of accounts, claims, representations or other information supplied by them, unless a specific service is expressly agreed in writing.
Our role is limited to aggregation, compilation, coordination, processing and/or transmission of information and documents as provided by the client or other sources.
Accordingly, the concerned CA / professional shall not treat any information supplied or communicated by us as having been independently verified or certified by us.
3. Audit / Certification / Attestation Responsibility
Where the information or documents provided through us are subsequently used by a CA in connection with any:
• Audit;
• Tax Audit;
• Certification;
• Attestation;
• Assurance engagement;
• Report;
• Professional opinion;
• Valuation;
• Financial statement preparation;
• Income-tax / GST / ROC / MCA or other statutory compliance;
• Representation before any statutory or regulatory authority; or
• Any other professional engagement,
the entire responsibility for such professional work shall remain with the concerned CA / professional who undertakes, signs, issues or submits such professional work.
The concerned CA / professional shall independently satisfy himself/herself regarding the correctness, completeness, authenticity, sufficiency and reliability of all information and documents relied upon for such engagement.
4. Responsibility for Professional Judgment
No reference, data, document, lead, information or material provided by us shall restrict, replace or substitute the independent professional judgment of the concerned CA / professional.
The concerned CA / professional shall be solely responsible for deciding:
1. what information or documents are required;
2. whether additional documents or explanations are necessary;
3. whether the information provided is reliable and sufficient;
4. whether further inquiry or investigation is required;
5. whether the applicable professional standards and legal requirements have been complied with; and
6. whether the relevant audit report, certificate, attestation, opinion, return, statement or other professional document may properly be issued or submitted.
5. Client-Provided Information
Where information or documents originate from the client, the primary responsibility for the truthfulness, completeness and accuracy of such information rests with the client, subject to the professional responsibilities applicable to the concerned CA / professional under the relevant engagement and professional standards.
Any forwarding, compiling, formatting, organizing or communicating of such information by us shall not amount to our confirmation or certification of the truthfulness or accuracy of such information.
6. References / Introductions
If we provide any reference, introduction, contact, lead, client information or professional reference to a CA / professional, such reference shall be treated solely as an introduction or information source.
The concerned CA / professional shall conduct his/her own independent due diligence and professional assessment before accepting any assignment or relying upon information relating to such person, entity or client.
A reference or introduction provided by us shall not constitute a recommendation, guarantee, endorsement, certification or assurance regarding the client, its financial position, documents, transactions, conduct, background, compliance status or any other matter.
7. No Representation or Assurance by Us
We make no representation, warranty or assurance, express or implied, regarding the:
• accuracy;
• completeness;
• authenticity;
• legality;
• reliability;
• sufficiency; or
• fitness for a particular professional purpose
of information received from clients, third parties or other sources.
Any professional conclusion drawn from such information shall be the independent responsibility of the CA / professional undertaking the relevant engagement.
8. Responsibility for Signed / Issued Documents
Any report, audit report, certificate, attestation, opinion, declaration, return, financial statement, professional communication or other document signed, certified, attested, issued or submitted by a CA / professional shall remain the responsibility of the concerned CA / professional in accordance with the applicable law and professional standards.
Our role as an aggregator or information-support provider shall not make us responsible for the professional conclusion, certification, attestation, opinion or assurance provided by such CA / professional.
9. Limitation of Our Role
We do not hold ourselves out as an auditor, certifying authority, attesting authority or assurance provider merely by aggregating, compiling, coordinating, processing or communicating information.
Unless expressly agreed otherwise in writing, our services are limited to administrative, aggregation, coordination, data-processing and information-support functions and do not constitute an audit, assurance, certification, attestation or independent investigation.
10. Final Responsibility
Accordingly, any CA / professional who directly or indirectly works with us, receives a reference from us, receives information through us, or uses information or documents aggregated/provided by us shall remain independently responsible for conducting such verification, due diligence and professional assessment as may be necessary for his/her engagement.
The CA / professional shall be solely responsible for ensuring compliance with all applicable laws, rules, regulations, ICAI requirements, Standards on Auditing, Standards on Assurance Engagements, professional ethics requirements and other applicable professional standards, as relevant to the engagement.
11. Acceptance of Terms & Conditions and Jurisdiction
By engaging, associating, coordinating, communicating, receiving information from, providing services to, or otherwise working directly or indirectly with us, the concerned CA / professional shall be deemed to have read, understood and accepted these Terms & Conditions and this Disclaimer, as amended or updated from time to time.
Continued association, engagement, use of our services, acceptance of references, receipt or use of information/documents provided through us, or continuation of any work with us shall constitute acceptance of these Terms & Conditions, unless the concerned CA / professional expressly communicates any objection in writing before proceeding with or continuing such engagement.
The CA / professional acknowledges that these Terms & Conditions define the respective roles and responsibilities of the parties and agrees to comply with the same to the extent applicable to the relevant engagement.
12. Governing Law and Jurisdiction
This Disclaimer and the Terms & Conditions governing the relationship between us and the concerned CA / professional shall be governed by and construed in accordance with the laws of India.
Subject to applicable law, any dispute, claim, controversy, proceeding or litigation arising out of or relating to our services, association, engagement, information provided, references, these Terms & Conditions or this Disclaimer shall be subject to the exclusive jurisdiction of the competent courts at Mumbai, Maharashtra, India.
The concerned CA / professional expressly agrees to submit to the jurisdiction of the competent courts at Mumbai, Maharashtra, to the extent legally permissible.
Nothing contained herein shall be interpreted as transferring, reducing or replacing any statutory or professional responsibility that legally rests upon the concerned CA / professional.
This disclaimer is intended to clearly define the limited nature of our role as an aggregator / information-support service provider and to distinguish such role from the independent professional responsibilities of the CA / professional undertaking any audit, certification, attestation, assurance or other professional engagement.