2011 Tax regime and risk management – part 1
10:00 mins, 58.49 MB - this recording provides guidance to CPA Australia public practitioners on the Tax Practitioners Board’s explanatory paper on PI insurance and risk management requirements.
At the end of 2010, the Tax Practitioners Board released Explanatory Paper TPB (EP) 03/2010 on professional indemnity insurance (PII) requirements for registered tax agents and BAS agents, which take effect from Friday 1 July.
This recording provides some guidance for CPA Australia members on how this paper impacts them and outlines their risk management responsibilities as CPA Australia public practice certificate holders.
The recording addresses the Tax Practitioners’ Board emphasis on self-assessment and risk minimisation strategies; why practitioners need PII; issues they should consider when assessing PII; components of PII policies and provides some tax claims scenarios.
Presented by Mark Morris CPA, CPA Australia’s Senior Tax Counsel, and Drew Fenton CPA, Managing Director of Fenton Green & Co.
Fenton Green is CPA Australia’s preferred broker and partners with CPA Australia in the provision of risk management education to members.
The interview was recorded at CPA Australia’s head office in February 2011.