New requirements in the Code of Ethics mean that accountants may, in some instances, have to report client non-compliance with laws and regulations (NOCLAR).
No accounting practice is immune to cybercrime or the damage it can cause. And the recent rollout of the Notifiable Data Breach (NDB) scheme now imposes significant penalties for failures to report breaches.
IFRS 16, the new accounting standard on leases (AASB 16 Leases in Australia), will bring trillions onto balance sheets globally but putting it into practice has thrown up some complexities.
Accounting professionals have to accept the “rough with the smooth” when it comes to working extra hours.
Practitioners need to be on guard against clients whose actions or intentions may contravene the Fair Work Act. There are four questions in particular that should give you pause.
Booming housing prices and longer life expectancies are fuelling “inheritance impatience” and leading to elder financial abuse, so accountants need to be on the alert for these problems.
Litigation over tax office decisions has almost halved in the past three years and there is a message in that for accountants and their clients: talk to the ATO first.
The courts have fined a second accounting firm over involvement in a client’s breach of workplace laws.
If referring clients to other professionals, practitioners have a clear duty to ensure they receive the best possible advice.
Looking for proven marketing tactics to grow your firm? Here are five that will work in any business situation.
Three accountants who are experts in diverse areas of public practice list the three most common questions their clients ask and explain how they respond to them.
Referring clients to an appropriate financial planner can benefit all parties, but it is imperative that public practitioners apply due diligence to the process.
Since the removal of the accountants' exemption and the introduction of the limited Australian Financial Services (AFS) licence, accountants who provide self-managed superannuation fund (SMSF) services have taken a range of steps to adapt to the changes.
Not every client is a good client, and the consequences of working with them could be severe.
Stopping people using and hoarding large sums of cash could be a crucial step in cracking down on tax avoidance.
Consumers know what they want and, increasingly, they want a business to understand them. That’s why big companies extending their reach across the globe won’t force out the niche players.
Volunteering can enrich your life with new purpose and put your hard-earned accounting skills to work at the same time.
In an era of heightened scrutiny from regulators, accountants and tax practitioners need to have a handle on their duty of reasonable care. Here are some steps you can take.
If you have ambitions to grow your accounting practice, it’s important to know how satisfied your clients are. Read on for some ways to uncover client satisfaction and then act on it.
Succession planning in family firms can be challenging but one small accounting practice in Canberra has managed to get the process right.