Accountant Retention Contract (Kovel Letter)

The Accountant Retention Contract (Kovel Letter) template is a legal document designed specifically to outline the professional engagement between a client, typically an individual or a company facing legal issues, and an accountant or accounting firm in the United States. This contract refers to the legal principle known as the Kovel arrangement, which allows for attorney-client privilege protection to extend to communications between the client's attorney and an accountant engaged by the attorney.

This template serves as a comprehensive agreement that establishes the terms and conditions regarding the accountant's role in assisting the attorney and the client during legal proceedings. It covers essential aspects such as the services to be provided by the accountant, the scope of the engagement, fees and payment arrangements, confidentiality, ownership of work product, and dispute resolution.

The document aims to clearly define the responsibilities of the accountant, highlighting their obligation to maintain strict confidentiality and privilege in their interactions with both the attorney and the client. It also includes provisions that protect the client's interests, such as clarifying that the accountant is working at the direction and under the control of the attorney, ensuring that attorney-client privilege fully covers their communications.

Moreover, the template ensures that the accountant's work aligns with applicable laws and professional standards, notably the rules and regulations set forth by relevant accounting bodies and authorities in the United States. It stipulates that the accountant must adhere to these standards, maintain independence, and provide accurate and unbiased information to aid the attorney and client in their legal proceedings.

By using the Accountant Retention Contract (Kovel Letter) template, all parties involved can have a clear understanding of their respective roles and responsibilities, preserving attorney-client privilege while facilitating effective collaboration between the attorney and accountant.