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...
Financial Services
Financial advice including wealth creation, insurance and lending services
Keeping it clean – Tranche 2 Reform Update
by Roman Kaczynski | Dec 11, 2018 | Featured Articles, Financial Services
Money laundering is big business, with an estimated $15 billion laundered annually in Australia. When coupled with the impression of respectability, legitimacy and credibility, the gatekeeper role played by accountants makes them prime targets for money launderers....
Class announces integration with XPLAN, delivering a shared single view of wealth for advisers, accountants and their clients
by Lilian Kealty | Nov 28, 2018 | Financial Services
Thursday, 22 November 2018 – Class has announced a significant new data feed integration with XPLAN, the leading financial planning software for financial advisers. The Class to XPLAN data feed enables financial advisers, accountants and their clients to share a...
Technology and the Future of Audits
by Steven Watson | Nov 13, 2018 | Financial Services, Technology Support
The emergence of new audit technology has had an enormous impact on the audit profession. Machine-learning based tools can rapidly analyse hundreds of documents and identify key areas of interest in a fraction of the time it took a decade ago. What would have required...
They’re Reliable, They’re High Margin!
by Peter Towers | Nov 13, 2018 | Financial Services, Practice Management
They’re reliable, they’re high margin, they usually pay on time and, they always need your advice. I’m talking about your medium-sized business clients. For many accountants, these are the 20% of your clients, who provide 80% of your turnover and these are the...
Some movement on Div 7A … at last!
by Robyn Jacobson | Nov 5, 2018 | Financial Services
On 22 October 2018, the Treasury released a consultation paper titled Targeted amendments to the Division 7A integrity rules. The paper sets out the Government’s proposed implementation of the amendments to improve the integrity and operation of Div 7A of Part III of...
3 Ways The Digital Economy Will Affect The Way You Work
by Luis Sanchez | Nov 5, 2018 | Financial Services
As more transactions take place entirely online, how can you make sure your firm is staying up to date? Accounting technology has come a long way over the last 10 years, but the trend for digital goes way beyond the back office. The ATO refers to it as “a rapidly...