Financial Services Archive

The Future of Auditing as a Profession

Auditing is evolving rapidly through the effect of technological and legislative changes in recent years as well as the environmental and economic impact of COVID-19 in 2020. These changes...

Fixed Fee Playbook: How to implement fixed fees in your accounting firm

Your complete guide to smoothly transitioning to a fixed fee pricing model with Practice Ignition.

As we head towards the end of the calendar year it’s important to be thinking...

Dealing with Change and Building Resilience

What do the following functions have in common?

  • The ability to maintain focus and attention, to be fully present and alert
  • The capacity to manage our emotions...

Accountants who want to be mortgage brokers

I often get asked by Accountants “Can I become a mortgage broker and write the loans myself”.

The simple answer is yes, ofcourse. However, the correct answer is “Should you”?...

Work smarter with smart apps that work together

Business Fitness & ATOmate are excited to announce their integration partnership, joining forces to eliminate the administrative burden of processing ATO documentation.

The integration between Business Fitness’ document...

“Routine and mechanical” is not a loophole

The new Independence Guide clarifies that an auditor cannot audit an SMSF if they prepared the financial statements for the SMSF unless it is a “routine or mechanical service”, however the...

Temporary Relief for Directors’ Personal Liability for Trading Whilst Insolvent

Readers may possibly recall that the Federal Government announced a raft of temporary relief measures in late March 2020, some of which were aimed at giving directors of companies’...

DATA (Due Diligence); it’s all in here… somewhere

Historically we’ve all helped a client Buy or Sell a business… and in doing so, of course, we went straight to the DATA, right(?).

What do I mean by...

Is Your Identity for Sale?

Have you ever wondered who controlled your genetic profile data and had access to your identity? It’s big business and a commodity that has recently been up for sale.

In...

When and what role to hire next in your accounting firm

by  | Sep 23, 2020 | Articles

 

Recently I’ve had quite a few conversations with clients about when to hire the...

Audit Independence and Reciprocal Arrangements

Reciprocal auditing arrangements where SMSF firms enter into audit arrangements for one another risk breaching new independence requirements, the ATO has clarified.

The restructured Independence Guide in the APES 110 Code...

Finance and Accounting Tasks You Should Outsource

When you are running your own business it’s natural to want to handle all the operations. However, when in the finance and accounting industry, there are a lot of...

3 reasons your mortgage broker division is broken. #3 will blow your mind!

I often get asked what makes our in-house mortgage broker program more effective than others on the market, and I can sum this up in 3 reasons mortgage broker...

Common Scams during the COVID-19 Period

Over $3,360,000 have been lost since the outbreak of COVID-19 (Scamwatch, 2020).

The ‘new normal’ brought many challenges with it, and scammers and cyber criminals took full advantage of this...

How digital fact finds are revolutionising client onboarding

The success of your financial advice practice hinges on its efficiency. The more clients you can assist to achieve their financial goals, the greater the cash flow to your...

Three Tasks to Outsource

No one ever said that running a business was easy, whether small or large. There are just so many different things you need to be thinking about at any...

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