The future of SMSF auditors in Australia seems to be at a crossroads, with recent actions by ASIC indicating a heightened scrutiny of the profession. The increased focus is not a sudden move but part of a long-term commitment by ASIC to uphold the integrity of the...
Featured Articles
Special articles relevant to current issues and challenges for accounting firms
Bang for buck process automation for accounting practices: 3 business processes you can automate with little effort and big returns
by Stan Corner | Sep 15, 2021 | Business Services, Client Management, Featured Articles, Financial Services
When was the last time you stepped back and critically reviewed your key business processes? Is your current way of working still the best way for your team and your clients? With client needs, and team capabilities constantly changing, we recommend you pause and...
Ransomware – Are you the Next Target?
by Karen McDonald | Sep 7, 2021 | Business Services, Client Management, Featured Articles, Financial Services
In 2021, many Australians fell victim to ransomware attacks and the accounting industry was in the top three industry sectors to notify data breaches. The Office of the Australian Information Commissioner (OAIC) reported an increase of 24% in ransomware incidents from...
Diversifying Accountancy Services – Why?
by Peter Towers | Aug 24, 2021 | Business Services, Client Management, Featured Articles, Financial Services
Diversifying Accountancy Services – Why? The survey undertaken by Accounting Market Pulse in May 2021 indicated that only 5% of the accounting firms that were surveyed reported that they “will not be diversifying services in the next few years”. This is exciting news...
Can’t get to the office? Three tips to help your team manage ATO correspondence remotely
by Stan Corner | Aug 23, 2021 | Business Services, Client Management, Featured Articles, Financial Services
We’ve had to get used to working remotely, often at very short notice, and while no doubt your practice has been able to adapt to the changing work environment over the past year, what hasn’t changed is the myriad of channels you and your clients receive important ATO...
Is it time to have “special projects leave”?
by Rob Pillans | Aug 19, 2021 | Business Services, Client Management, Featured Articles, Financial Services
As an accounting firm coach, consultant and mentor I am privy to many shareholder agreements. Some incorporate a form of long service or sabbatical leave for owners on some sort of a cycle. Good idea. I’ve recently had a client try the idea of what they ended up...
Revisiting independence with audits – Have accounting firms really addressed the problem?
by Gansen Pappiah | Aug 17, 2021 | Business Services, Client Management, Featured Articles, Financial Services
On 1st July 2021, the ATO launched new SMSF Audit independence standards that included in-depth clarification on the complexities surrounding the provision of audit services alongside non-assurance services. In the new standards, ATO guidance confirms that even where...