We are a Registered BAS agent
As of March 1st 2010 the ATO regulated the bookkeeping industry. As a result, all bookkeepers providing a BAS Service must register.
What does that mean for you?
In the past, a bookkeeper could do a MYOB or Quicken course and start charging for their services. Due to their lack of experience, they often left a mess. As a result, the client could do nothing except find someone else to fix it.
This can be expensive and emotionally draining.
To register with the Tax Practitioners Board, a bookkeeper must pass the following requirements first. Those requirements include;
A minimum of a Cert IV in Financial Services (Bookkeeping or Accounting).
1,000 hours supervised experience lodging BAS in the past 4 years.
Minimum of $1,000,000 professional indemnity insurance.
Maintaining knowledge and skills, taking relevant courses and keeping up to date with laws.
Professional code of conduct
We are under a Code of Conduct. Breaches can mean up to $137,500 in fines and penalties. Or even loss of registration. The code covers five areas;
Honesty and integrity
Acting honestly, complying with taxation laws personally, trustworthy dealing with money.
Acting in best interest of the client and management of conflict of interest that may arise.
Not disclosing information to a third party without client’s permission or legal duty to do so.
Taking reasonable care to ascertain client state of affairs and correctly apply GST and taxation laws.
Timeliness, professional indemnity insurance, and correct administration of laws.
The Institute of Certified Bookkeepers is the largest bookkeeping institute in the world. It promotes and maintains the standards of bookkeeping as a profession, through the establishment of a series of relevant qualifications and the award of grades of membership that recognise academic attainment, working experience and competence.
The Institute’s objectives are:
- promoting bookkeeping as a profession
- enabling bookkeeping to gain recognition as an integral part of the financial profession
- promoting training in the principles of bookkeeping
- improving the career prospects of its members
Consultation with commerce and industry has confirmed and amplified the Institute’s assessment of the need for qualified bookkeepers.