You can also access the archive of previous Public practice updates.
Your professional obligations
2008 SAPSE guide launched The Sample audit programs small to medium entities (SAPSE) guide has been completely revised, updated and extended for 2008.
SAPSE discussion board A discussion board will be available during July to accompany the release of the 2008 revised edition of the SAPSE guide.
New standards come into effect from 1 July 2008 Practitioners are advised that the following professional standards came into effect from 1 July 2008, and are applicable to relevant engagements commenced on or after this date:
APES 205 Conformity with accounting standards (replaces APS 1)
APES 220 Taxation services (replaces APS 6)
APES 305 Terms of engagement (replaces APS 2)
In addition APS 8 Statement of management consulting standards is to be withdrawn, with effect from 30 June 2008 and will not be replaced.
Sample engagement letters APES 305 Terms of engagement is effective from 1 July 2008 and replaces APS 2 Terms of engagement. From this date all members in public practice are required to document and communicate the terms of engagement in the engagement document.
The segment provides an overview of what to expect when appearing in court, and giving evidence, as an expert witness, including cross-examination and presentation guidance.
Prefaced with an introduction by Anthony Scott, partner at Moray & Agnew, this segment is presented by Geoff Sincock, partner at Deloitte, who is an experienced expert witness.
The DVD covers what is AML; why is Australia implementing AML; what specified services are currently covered within the Act; and what obligations apply to businesses covered under the Act.
The AML member forum was held in conjunction with the regulator, AUSTRAC. If you have previously registered for the DVD it will be distributed to you shortly.
report to be received by CPA Australia by Friday 31 October
We advise practitioners who have not yet arranged a date for their planning meeting to contact their reviewer as soon as possible to make the appropriate arrangements.
Becoming a firm of the future
CPA Australia to produce practice management guide CPA Australia will produce the International Federation of Accountants (IFAC) practice management guide, which will provide guidance on the management of a practice in order to operate in a safe, profitable and professional manner.
Rural and regional practitioner study An Australian Research Council Linkage Project Grant is underway to study the factors affecting the supply of, and demand for, professional accounting and allied services in rural and regional Australia.
Reminder: PPAC nominations Nominations of suitable members are sought for CPA Australias Public Practice Advisory Committee (PPAC) by Wednesday 23 July.
HSBC guide to cash and treasury management In conjunction with HSBC Bank, CPA Australia will provide a special edition of HSBC's guide to cash and treasury management in Asia Pacific 2008 for members.
Preparing clients for selling a business Selling a practice should not be taken lightly or hastily according to David Bird, chairman or BizExchange. The successful sale of a practice whereby the owners interests are optimised requires careful planning, preparation and implementation.
Public practice business valuations survey The 2008 public practice business valuations survey, conducted by CPA Australia in association with BizExchange, is underway across Australia.
Paperwork for self managed super funds workshop A practical information session relating to the management of paperwork for self managed super funds is being held on Thursday 14 August in Baulkham Hills as part of the 2008 Public Practice Series.
Risk management as the foundation of your quality assurance The Risk management as the foundation of your quality assurance forum will cover the requirements for quality assurance, risk management under APES 320 Quality control for firms and real world applications as part of the 2008 Public Practice Series to be held in Sydney.
Show me the money workshop Learn how to finance a business and fund its growth, the right questions to ask your lender or, more importantly, how to prepare for the interview, and how to attract an external investor at the Show me the money! workshop being held in Adelaide.
Forthcoming events
Annual research lecture in Tasmania Major issues that the business community and the accounting profession face due to globalisation and, environmental and ethical crises will be addressed at the Kate Stanton Annual Research Lectures in Tasmania.
Firm of the Future conference in Malaysia Discover what conversations innovative firms are having today to ensure their survival and success in the future, at the Firm of the Future conference being held in Kuala Lumpur on Wednesday 6 August.
Public practice residential in Queensland A Public Practice Residential course is being held on Friday 25 July to Saturday 26 July in Springwood, Queensland to complement the distance learning of the Public Practice Program.
Super basics DVD series Learn about the opportunities and potential pitfalls of the taxation of super contributions at the latest instalment of the Super basics DVD series on Thursday 24 July in Darwin.
