An engagement runs through six stages, from the request through to the handover, and the same build standards apply whatever the size of the fee.
You pick the engagement and the size band from its page and send the request through. We come back with the fee confirmed and anything that needs clarifying before an engagement letter can go out.
The letter carries the fee, the agreed procedures and deliverables, the payment terms and the information request. Payment is made in full or split between a fifty percent deposit and a fifty percent balance at delivery, according to the terms agreed in the engagement letter.
You receive a request list built around the engagement, with each item stating the period it covers, the format we need it in and why it is needed at all. The turnaround gets quoted once that list comes back complete, since the time it takes to assemble source records is the largest single variable in how long delivery ends up taking.
The work runs against the scope, and where something comes up that changes the picture, whether that is an adjustment considerably larger than anyone expected, a reconciliation that will not tie or a record that turns out never to have existed, you hear about it while there is still time to act on it.
Everything goes through partner review before it leaves, and the review notes are kept and cleared, so that there is a record of what was questioned and how it was resolved. The tie-outs get run before anything is released, which means the schedules against the trial balance, the databook against the statements, the model outputs against the source data, and every figure in a deck back to the model that produced it.
You receive the deliverables along with the source files behind them, and the larger engagements come with a walkthrough call. Two rounds of revision inside the written scope are included on anything written, and every deliverable arrives with a list of what remains open at the point of delivery, what would be needed to close each item and who is currently holding it.
Source records, documented assumptions, tie-outs and partner review are required on every engagement, regardless of its size.
Inputs are blue, formulas are black and cross-sheet links are green. Assumptions live on their own sheet and nowhere else, and a formula stays consistent across every period in a row.
No hardcoded number sits inside a calculation sheet, every denominator that can reach zero is guarded, and every three-statement model carries a balance check row that has to read zero.
Every assumption carries its source and the date that source was taken, market and comparable data name the provider and the extraction date, and anything you give us is labelled as provided by you.
Every adjustment and every add-back ties to the document, page and amount that supports it, through a support index the other side can walk through on its own.
Every deliverable goes through partner review before it leaves, and the review notes are kept and cleared so there is a record of what was questioned and how it was settled.
Tie-outs run before delivery. We tie the schedules to the trial balance, the databook to the statements, the model outputs to the source data, and every number in a deck to the model that produced it.
One naming convention runs across the engagement, versions are numbered, and superseded files are archived.
Schedules and models come in Excel, reports and memoranda in Word and PDF, and presentations in PowerPoint. You get the source files at the end as well as the outputs.
Reports and databooks carry a control sheet, a table of contents, a scope and basis section and a notice to readers, and the scope states the procedures performed as well as those not performed.
Every deliverable lists what is unresolved at delivery, what is needed to close it and who holds that item.
A mutual non-disclosure agreement goes in place before information moves, client material is segregated by engagement, and nothing is used as a case study or a reference without written permission.
Two rounds of revision are included on written deliverables within the stated scope, and scope changes are quoted before the work starts.
Audit, review and compilation engagements. Any opinion or assurance on financial statements. 409A valuations and certified appraisals. ESOP valuations. Fair value measurement under ASC 805 and ASC 820. Fairness opinions. Tax return preparation and tax opinions. Securities placement, investor solicitation, and any transaction-contingent or success fee.
TEOL Capital is not a broker-dealer, an investment adviser, a placement agent or a finder. Engagements are preparation and support work. TEOL does not place securities, solicit investors or make investor introductions, and takes no success, contingency or placement fee.
The fees published here are indicative, set against the scope described on each page, and a final quote is confirmed in writing before any engagement letter is issued. Nothing published here is an offer, and no engagement begins until a letter is signed by both sides. Work outside the stated scope is identified and quoted before it begins. Full payment or a 50% deposit on engagements under $10,000, and 50% at start with 50% at delivery above that. Turnaround is quoted on receipt of a complete information request and is a target rather than a term of the engagement. Fees are reviewed quarterly, and an engagement letter issued at a published fee holds that fee regardless of any later review. Work is prepared for the client named in the engagement letter and for that client's own use. Anyone else who receives it does so for information and cannot rely on it. Management accounts, consolidations and financial statements we prepare are built from the records management maintains and remain management's responsibility. We do not guarantee any particular outcome, including a sale, a financing, a valuation conclusion or a price. Our liability on any engagement is limited to the fees paid for that engagement.