Acton Advisory Limited

1. The Agreement

These Terms of Service govern the relationship between you, the client or visitor, and Acton Advisory Limited, a fee accounting practice operating from Rm 702 7/F Fu Fai Coml Ctr, 27 Hillier St, Sheung Wan, Hong Kong - 999077, Hong Kong (HK). By using the website, contacting the desk or engaging the firm, you agree to be bound by these terms.

Where an engagement letter sets out a specific scope, fee or deliverable, that letter takes precedence over these general terms for that engagement. Where the two documents conflict on a point that is not addressed in the letter, these terms apply.

These terms replace any earlier understanding between the parties on the same subject, whether written or spoken, unless the earlier understanding is repeated in a current engagement letter.

2. Definitions

In these terms, the firm or we refers to Acton Advisory Limited. The client or you refers to the person or organisation that engages the firm. The desk refers to the fee accounting team at the Hillier Street office. The services refers to the six fee accounting stations described on the services page and any additional work agreed in an engagement letter. A ledger bay is the record that holds the terms, counting definition and running foot for one engagement. A retainer window is the reconciliation cycle described in the services page.

A business day means a day on which banks in Hong Kong are open for normal business, excluding Saturdays, Sundays and public holidays.

3. Acceptance of These Terms

You accept these terms when you first use the website in a way that goes beyond passive reading, when you submit the contact form, when you email the desk or when you sign an engagement letter. If you do not accept the terms, you should not use the services and should leave the website.

If you accept these terms on behalf of an organisation, you confirm that you have the authority to bind that organisation. If you do not have that authority, the agreement is formed with you personally and you remain responsible for the obligations it creates.

4. Scope of Services

Acton Advisory Limited provides fee accounting services across six stations: engagement ledger bays, invoice run desks, retainer reconciliation windows, disbursement reviews, write-off audits and year-end closings. Each station operates under the counting rules recorded in the relevant ledger bay, and those rules are agreed with the client before counting begins.

The firm is not a statutory auditor and does not issue audit opinions. The firm does not provide legal advice, tax advice or investment advice unless a separate written agreement says otherwise. Where a matter requires a licensed professional in another discipline, the firm will say so and will step back from that part of the work.

The firm may decline an engagement where a conflict of interest exists, where the scope cannot be defined clearly or where the client has not provided the records needed to begin. A refusal is not a statement about the client and does not create any liability on the part of the firm.

5. Engagement Letters

Every engagement begins with a written engagement letter that states the scope, the fee, the billing rhythm and the limit of the service. The letter may be sent by email and may be accepted by return email, and an accepted letter forms a binding agreement between the parties.

The engagement letter also names the desk contact who will supervise the work and sets out the cadence at which the bay will be reviewed. Where the scope changes during the engagement, a written change note is added to the bay and, where the fee is affected, a revised fee is agreed before the extra work begins.

No work begins until the engagement letter has been accepted and, where a retainer applies, the opening retainer has been received.

6. Client Responsibilities

An accurate fee ledger depends on timely and complete records from the client. The client agrees to provide the source records for each engagement, to respond to enquiries from the desk within a reasonable period and to tell the desk promptly about any change that affects the counting rule.

• Provide receipts for disbursements at the time the cost is incurred.
• Approve or reject a proposed write-off within the period stated in the engagement letter.
• Name a contact who has authority to approve a scope change or an invoice.
• Tell the desk about any dispute over a charge before the next invoice run.
• Keep the desk informed of any change of address, entity name or authorised signatory.

Where the client does not provide the records needed to complete an invoice run, the desk may delay the run and will record the reason in the bay. A delay caused by missing client records does not entitle the client to a discount, but the desk will work in good faith to shorten the delay.

7. Fees and Payment

The fee for an engagement is set out in the engagement letter. Fees may be charged on a fixed basis, a time basis or a retainer basis, and the letter will state which applies. Where a fee is estimated, the estimate is given in good faith and the client is told promptly if the likely fee changes.

Fees are exclusive of any applicable tax, which is added where the law requires it. Payment is due within the period stated on the invoice, which is normally thirty days from the invoice date unless the engagement letter says otherwise. Payment must be made in the currency stated on the invoice and must reach the firm account by the due date.

Where a payment is overdue, the firm may charge interest on the outstanding amount at a reasonable rate and may suspend work until the account is settled. The firm will give written notice before suspending work and will allow a short period for the client to respond.

8. Invoices and Retainers

Invoices are issued through the invoice run desk on the schedule recorded in the bay. Each invoice carries a numbered reference, a statement of what was counted and the due date. An invoice is accepted as correct if the client does not raise a query within ten business days, but acceptance does not remove the right to query a genuine error later.

A retainer is money held in advance and is applied against future work. The desk opens a reconciliation window at each retainer cycle and issues a statement showing the opening balance, the time drawn, any adjustments and the closing balance. The client may ask for a top-up or for a change of billing rhythm at any window.

Unused retainer balances are carried forward unless the engagement letter says otherwise. On termination, any unused balance is returned to the client after the final invoice and the final closing have been reconciled.

9. Disbursements

Disbursements are costs incurred on behalf of the client, such as hardware, licensed software, travel and subcontractor days. Each disbursement is matched to a receipt and a project code at the time it is entered. An item that cannot be matched is held at the desk and raised with the client rather than added to an invoice.

The client agrees to reimburse disbursements at the amount shown on the receipt unless the engagement letter states a handling charge. Where a supplier offers a discount or a rebate, the benefit is passed to the client and recorded in the bay.

The firm does not seek a secret commission from a supplier and does not accept a payment that would create a conflict with the client interest. If a supplier offers any benefit, the firm will disclose it to the client and apply it in accordance with the engagement letter.

10. Records and Reporting

The firm keeps a written record of each engagement in the ledger bay. That record includes the counting definition, the running foot, the run history and the notes that explain any adjustment. The client may request a copy of the bay record at any time, and the firm will supply it in a readable form within a reasonable period.

The firm also keeps a register of invoices, retainer statements and closing packs. Those documents are written so that a reader outside the desk can follow the reasoning behind each figure. Where a record contains personal data, it is handled in line with the privacy policy on this website.

Records are held for the period described in the privacy policy, which is normally seven years from the end of the relevant financial year. After that period the firm deletes or anonymises the record unless the law requires a longer period.

11. Year-End Closings

The year-end closing is the point at which the full ledger is footed and signed off. The firm reserves a closing window each autumn and gives priority to clients whose ledgers have run the full twelve months. The client receives a checklist of the records needed before the window opens.

A closing pack contains a summary of totals, a bay-by-bay walkthrough and a list of open items for the following year. The pack is delivered in writing and is reviewed with the client at a closing meeting. The firm confirms delivery of the pack by email to the client contact named in the engagement letter.

Where the client asks for a change after the pack has been delivered, the firm will record the change as a post-closing adjustment and will issue a revised page rather than rewriting the original pack. This keeps the record honest about what was known at the time of closing.

12. Confidentiality

Each party agrees to keep the confidential information of the other party secure and to use it only for the purpose of the engagement. Confidential information includes the counting rules, the fee arrangements, the records of the client and any information that is marked as confidential or that a reasonable person would treat as confidential.

The obligation does not apply to information that is already public, that the receiving party already held lawfully before the engagement or that the receiving party is required to disclose by law or by a competent authority. Where disclosure is required, the receiving party will give the other party as much notice as the law allows.

The obligation continues after the engagement ends. The firm keeps client records confidential for the retention period described in the privacy policy and limits internal access to the people who need the records to do their work.

13. Data Protection

Personal data collected through the website and through an engagement is handled in line with the privacy policy published on this website. The privacy policy explains what data is collected, why it is collected, how long it is kept and what rights a person has in relation to it.

Where the firm processes personal data on behalf of a client, the firm acts as a processor and follows the written instructions of the client. The engagement letter records the instruction, and the firm will not use the data for its own purposes.

Each party agrees to tell the other promptly if it becomes aware of a security incident that affects data shared under these terms, so that the parties can cooperate on containment and any required notification.

14. Intellectual Property

The website, its design, its text and its supporting files are owned by Acton Advisory Limited and are protected by copyright and related rights. You may read the website and print a page for your own reference, but you may not copy a substantial part of it for commercial use without written permission.

The working papers produced for a client engagement, such as bay records, run summaries and closing packs, belong to the client to the extent that they record the client records, while the firm retains ownership of its own methods, templates and internal notes. The firm grants the client a licence to use the deliverables for the client own business purposes.

The firm name and any associated mark may not be used in a way that suggests an endorsement or a partnership without written consent.

15. Website Use

You agree to use the website lawfully and not to interfere with its operation. You must not attempt to gain unauthorised access to the server, to introduce malicious code, to scrape the content at a volume that burdens the service or to use the contact form to send unsolicited commercial messages.

The website is provided as it stands. The firm takes care to keep the information accurate and the service available, but it does not promise that the website will be free of error or interruption. A link to a third party site is provided for convenience and does not imply that the firm endorses that site.

Where the website allows you to submit a message, the firm will use the message to answer your enquiry and will not add you to a marketing list without your consent.

16. Limits of the Service

The firm provides fee accounting support, not a guarantee of any financial outcome. The accuracy of a ledger depends on the accuracy of the records supplied by the client, and the firm is not responsible for a loss that arises from an incomplete or inaccurate record that the client supplied.

The firm does not verify every transaction behind a client record unless the engagement letter states that a verification service is included. Where a verification service is agreed, the scope of the verification is described in the letter and the firm reports its findings in writing.

The firm is not liable for a decision that a client makes on the basis of a fee record, including a pricing decision, a budget decision or a decision to write off an amount. The firm provides the record and the reasoning, and the client retains responsibility for the commercial decision.

17. Liability

To the extent permitted by law, the firm liability under these terms is limited to the total fee paid by the client for the engagement giving rise to the claim. This limit applies to all claims arising from a single engagement, whether the claim is in contract, tort or otherwise.

The firm is not liable for indirect loss, loss of profit, loss of business opportunity or loss of goodwill. The firm is not liable for a delay caused by a third party, by an event outside its control or by a client failure to provide records on time.

Nothing in these terms excludes liability for fraud, for wilful misconduct or for any liability that the law does not allow to be excluded. If a provision of these terms is found to be unenforceable, the remaining provisions continue in force.

18. Indemnity

You agree to indemnify Acton Advisory Limited against a claim, loss or expense that arises from your breach of these terms, from a record you supplied that was inaccurate or from your infringement of a third party right. This indemnity does not apply to the extent that the loss was caused by the firm own negligence or wilful misconduct.

The firm will tell you promptly about a claim that may trigger this indemnity and will allow you to take part in the defence of the claim where that is practical. The firm will not settle a claim in a way that admits fault on your part without your agreement, unless the law requires a settlement.

19. Suspension and Termination

Either party may end an engagement by giving written notice. Unless the engagement letter states a different period, thirty days notice applies. The client remains responsible for the fee for work performed up to the end of the notice period and for any disbursement already incurred.

The firm may suspend or end an engagement immediately if the client fails to pay an undisputed invoice after notice, if the client asks the firm to act in a way that is unlawful or unethical, or if a conflict of interest arises that cannot be managed. In that case the firm will account for any retainer balance and will hand over the client records as the law allows.

On termination, the firm will prepare a final reconciliation and, where the client asks, a limited closing pack for the period up to the termination date. The confidentiality and liability provisions of these terms survive the end of the engagement.

20. Force Majeure

Neither party is liable for a failure to perform an obligation that is caused by an event outside its reasonable control, such as a natural disaster, an epidemic, a failure of a public utility, a cyber attack on a shared infrastructure or an act of a government authority. The affected party must notify the other promptly and must take reasonable steps to reduce the effect of the event.

If the event continues for more than sixty days, either party may end the affected engagement by written notice. On ending, the firm will reconcile the retainer and will return any unused balance after deducting the fee for work performed.

21. Governing Law

These terms are governed by the laws of Hong Kong. The parties agree to submit to the exclusive jurisdiction of the courts of Hong Kong for a dispute that arises from these terms, unless the parties agree in writing to a different forum.

Before starting a formal claim, the parties agree to try to resolve the dispute through a written exchange and, where appropriate, a meeting between the people who have authority to settle it. That attempt does not prevent either party from seeking urgent relief where the law allows.

22. Changes to These Terms

The firm may update these terms to reflect a change in the law, a change in the service or a lesson drawn from a dispute. When a change is made, the date at the top of this page is updated and, where the change is material, active clients are told by email.

A change does not apply retroactively to an engagement that has already been scoped under an earlier version, unless the client agrees in writing. The version that applied to an engagement is the version in force at the date the engagement letter was accepted.

23. Contact

If you have a question about these terms, write to Acton Advisory Limited at Rm 702 7/F Fu Fai Coml Ctr, 27 Hillier St, Sheung Wan, Hong Kong - 999077, Hong Kong (HK). You can also send an email to billing@recodatech.lat or call +17432125027 during posted business hours.

The privacy policy on this website explains how personal data is handled. The services page describes the six fee accounting stations in more detail. Both pages are linked from the footer below and from the navigation at the top of every page.