ASIC has released its inaugural integrated financial reporting and audit surveillance report, highlighting the need for improved disclosure of material business risks, impairment of assets, and revenue recognition in financial reports. Report summary The report, which...
Financial Services
Financial advice including wealth creation, insurance and lending services
Turn your SMSF business into a profit powerhouse
by Bronwyn Smith | Mar 7, 2022 | Financial Services
Any accountant or financial adviser, particularly those working in the SMSF space would have experienced downward pressure on profits over the last 5 years. Increased complexity and compliance requirements have led to a blow out of SMSF administration time, and it can...
Why would my clients use a third-party service I recommend?
by Steve Lake | Feb 14, 2022 | Financial Services
It’s a great question and one that many accountants over the years have asked. Before I answer this, I wanted to welcome you all to 2022 and our first blog of the year. I thought it best to cover off on the most important issue when it comes to partnering with other...
Tax organisations urged to better safeguard client information
by Karen McDonald | Feb 7, 2022 | Client Management, Financial Services, Technology
The ATO is urging tax professionals to be more vigilant when it comes to protecting client information, both on and offline. Research by tech firm Tenable indicates that cybersecurity incidents increased during 2021. According to their findings, over 40 billion...
Finding the ideal referral partner
by Steve Lake | Oct 12, 2021 | Business Services, Financial Services
As an Accountant you work closely with your clients to ensure their financial outcomes are compliant and optimal. You are expert in your field and exceptionally good at what you do. It’s also likely you can be a bit of a “control freak.” Great operators are. You don’t...
Update – Prevention and detection of fraud through audit reporting
by Chang Chow | Oct 6, 2021 | Business Services, Financial Services
The recent Parliamentary Joint Committee Inquiry into Audit Quality made two significant proposals, which have the capacity to bridge the expectation gap by tackling stakeholders’ greatest concerns: fraud and unexpected corporate collapse. The first proposal is the...
How Asset Finance can add value to your bottom line
by Steve Lake | Oct 5, 2021 | Financial Services
When it comes to lending, there is one constant finance class that crosses over most of your clients. And that is regardless of their financial situations. Be they SME’s, PAYG clients, Investors, Developers and more they all need Assets and Equipment finance. It seems...