THE FINE PRINT - TAS' RIGHT TO REFUSE TO COMPLETE A LETTER OF RELIANCE:
Many parties relying on reports have little understanding of the limitations on use and distribution of report and that only the intended user identified in the report, or in a reliance letter, can rely on the conclusions.
It may seem that the only cost related to issuing a reliance letter is the clerical time associated with drafting the letter. However, the original report will now carry a greater claim risk due to the fact that a number of groups or individuals may have relied on the report. Consider the time involved in us having to revisit the file to assess the request, such as the review of the report and the work file, ensuring the report is compliant to the new intended users’ requirements, as well as time spent in relation to the request.
Liability risk has a cost that should be reflected in every professional service provided and to the risk associated with the work. If a 15-minute assignment comes back to haunt us or any of the parties as a liability claim, then the time involved with defending the claim will far outweigh the fee or the risk of us proving the letter.
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