NOTICE OF UNDERSTANDING
Description of Relationship
The North Carolina Association of Certified Public Accountants (NCACPA) Emergency Resource Response Team’s (ERRT) mission is to provide guidance to the Executor of the estate of a Certified Public Accountant (CPA) from a firm registered with the North Carolina State Board of CPA Examiners in the event of an untimely death, disability or other incapacitation to assist with the client communication.
Assistance Covered
The ERRT’s guidance on matters for the Executor of the Estate covers the following:
• Client communication best practices
• Understanding status of engagements
• Obtaining access to engagement platform/software
• Recommendation of other resources for Estate to consider
Assistance Not Covered
The ERRT’s assistance does not cover the following:
• Completion of engagements (audits, compilations, reviews, tax returns, etc.)
• Review of completed and/or in-process engagements
• Provision of technical and/or regulatory guidance to the Estate or clients of the Estate
The ERRT’s assistance does not constitute a willingness or interest in purchasing the practice from the Estate. If such interest exists, it is beyond the scope of this Letter of Understanding and separate agreements would be necessary.