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LATEST ARTICLES

Estate agent shaking hands with customer after contract signature

You think it’s too hard…think again. That’s because we listen, learn and take action.

Register for our upcoming webinar on the 19th August 2021, 12.00pm AEST As an accountant you know your clients need your trust and expertise when it comes to their mortgages, but you also know this is a highly regulated industry full of wonderful compliance and lender...
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Business people negotiating a contract, they are pointing on a document and discussing together. Two businessmen are negotiating in office.

The importance of engagements in guarding against scope creep

Are you currently undertaking additional grant work? Are your scope and engagements up to date to mitigate your practice’s risk of scope creep? Written by Rebecca Mihalic Properly managing your scope and engagements through crisis can mitigate your risk. As NSW enters...
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Income Tax Return Deduction Refund Concept R

ATO puts businesses and individuals on notice with tax returns

With tax time here, the ATO is using the mainstream media and accounting forums to put businesses and individuals on notice that this year is going to be very different to last. The implication is clear. With the economy on the mend and things settling into a “new...
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Five priorities for the start of FY22

With a new financial year kicked off in Australia it is not too late to plan for the year ahead if you’ve not done so already. Here are my suggestions to make FY22 a great year. (Re)articulate your values Get clear on your mission Get clear on your vision Have a...
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Audit Client Engagement – What’s Changed?

Managing client relationships effectively can be challenging when the primary focus is on getting the work done efficiently and professionally.  Engagement documents are the best way to ensure both engagement scope and fee for service are clearly understood. They also...
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Target Development Business Investment

Business Advisory Services Implementation Training Launched

The Business Advisory Services Implementation Training series of webinars commenced on 7th July 2021 and continues on a weekly basis until 31st August 2021. During each weekly webinar a presentation will be made on a key product/service that is included within the ESS...
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women using calculator calculated individual income tax for pay taxes annual

Tax audit claim stats all accountants in Australia will want to know

Every accountant knows that reviews or audits of your client’s tax returns or financial compliance obligations can sometimes be unavoidable. When an audit hits, this is rarely a reflection of the work put into preparing the return and is more often due to a specific...
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two hands holding a tablet showing graphs with CFO text

COVID-19 Drives Demand For Outsourced CFOs

In recent years, there’s been a strong trend for small and medium-sized business who could not otherwise afford an internal CFO to outsource this role to accountants and other financial specialists. An external CFO is a person or an accounting firm that takes on the...
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Generalist or Specialist – Who Owns the Future?

What sort of accounting firm do you think will own the future? One that provides a broad range of accounting and advisory services or one that specialises in a particular service? One that knows what type of client it wants to attract or one that will embrace anyone...
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The biggest security threat to your accounting business is on your payroll

Revealed: The real cost of insider attacks – and your strategy to prevent them Someone working for you right now is also working alongside some of the world’s most successful cyber criminals. A double agent. And before long, they’re going to take down your business...
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Conceptual hand writing showing Advisory Services. Business photo showcasing Support actions and overcome weaknesses in specific areas

What Advisory Services To Offer?

The CommBank Accounting Market Pulse Report, released in early May, has identified that most accountants have resolved to offer a range of diversified services in 2021/22.  Many firms will be giving consideration to the types of services that they will be offering to...
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Business man with team building concept

6 areas to tweak to build an effective Team

Good food is as good as the ingredients and a company is as good as its people. The process is as efficient as a team’s typical work week. An effective team is one with fundamental foundations effectively set towards achieving a common goal. Without a unified body of...
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Businessman holding puzzle pieces depicting sections of the dial of a clock conceptual of deadlines, time management and problem solving, close up of his hands.

It’s Time to Implement!

Many accountancy firms around Australia have obviously resolved to significantly diversify their business activities and to be very proactive relative to the introduction of Business Advisory Services to their firms. The CommBank Accounting Market Pulse Report issued...
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The ATO is on the precipice of change – are you ready?

The ATO has confirmed its consultative approach for the transition to digital client communication – is your practice ready? The ATO are working directly with digital service providers to support the move to digital-only communication; Accounting practices should...
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Eliminate or get rid of debt concept , Silhouette man pushed off debt wording a cliff with blue cloud sky and sunlight. D

Your guide to eliminating debtors this EOFY

Average debtor days for Australian accounting firms sits at 77. Learn how to eliminate your debtors and pay no transaction fees on client payments this EOFY. Research has shown that the average debtor days for Australian accounting firms is 53. In addition, average...
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business, technology, internet and networking concept - businessman pressing make money button on virtual screens

The 6 things small businesses need to know about security

Entrepreneurs and SMBs can do a lot to build strong shields and mitigate the risk of breaches, in addition to minimising the damage if a breach occurs. To help your company develop a stronger cybersecurity posture, six security professionals provided some of their...
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File Folder Labeled as Guidelines in Multicolor Archive. Closeup View. Blurred Image. 3D Render.

SMSF Auditor Independence Guidelines -What should you do now?

Time is running out for accounting firms to critically review the arrangement they have with the auditors of the SMSF funds for whom they prepare financial accounts. Firms have until 30th June 2021 to make necessary arrangements to engage independent SMSF auditors. If...
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Photo of various tools and instruments with RECRUITMENT letters imprinted on a clear wrench surface

Hiring post-COVID: the tools it takes to recruit top talent

COVID hit the workforce hard. As we inch toward economic recovery, more companies are dusting off the interview questions as they prepare to expand their teams. Many are also finding that the hiring process has changed, much like everything else. In some ways,...
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65 number encircled red

Accountants Retire at 65 or Best Sell Their Practice by 65 ?

I don’t think anyone really retires, in the sense, they do 'nothing' going forward, but, when / how do Accountants calculate it's time? I know a lot of us at, peak times / busy times, would like to retire, right then, during those moments or would love the COVID...
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Happy diverse business team young and old employees talking brainstorming on project paperwork gather at conference table, smiling workers group engaged in teamwork at corporate briefing in boardroom

Are you engaging your clients in a compliant way?

When was the last time you updated your engagement letter? The Tax Practitioners Board recommends engaging your clients annually, at a minimum. We know you don’t have time to formally engage your clients every year, despite the recommendation from the Tax...
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