You can also access the archive of previous 'Public practice updates'.
Your professional obligations
Limited liability scheme disclosure guidelines change Members can now use their discretion as to the colour used to print the limited liability disclosure statement on their business stationery under CPA Australia's Professional Standards Council limited liability scheme.
Sample engagement letters now available Two sample terms of engagement documents are now available in Word format to guide practitioners on preparing an engagement letter and on providing a brochure-type engagement document.
APESB standards: a 2008-2009 review The Accounting Professional and Ethical Standards Board (APESB) has released a number of standards which become operational during 2008 and 2009.
Draft Tax Agent Services Bill submissions Federal Treasury has advised that it has made available on its website 23 public submissions in response to the Revised exposure draft tax agent services legislation and explanatory materials, including one from CPA Australia. There were also 18 confidential submissions.
Updated toolkit items Three more tax toolkit items have been updated for public practitioners for the 2007-2008 financial year: a 2008 trust tax return checklist, a division 7A concessions letter and an at-call company loans standard letter.
Interactive tax tools Interactive tax checklists for public practitioners to use online will be made available over the next two weeks.
The 2008 checklists are: company tax return checklist; individual tax return checklist; division 7A checklist; FBT checklist; superannuation fund return checklist; residential rental property checklist; tax planning checklist; and trust tax return checklist.
Independence guide An independence guide for practitioners which provides practical examples of independence issues encountered by accountants and auditors as well as articulating threats, safeguards and objective assessments is available.
Professional indemnity: in and out of court video file Non-members and members can now access the Professional indemnity: in and out of court video file series, which will help you learn more about claims resolution processes, minimising risks, claim avoidance, early management, court appearance techniques and working effectively with legal advisers.
What may bring you to court video file The third segment in the series of video downloads on Professional indemnity: in and out of court is now available. The segment discusses the factors which may increase the prospect of a court dispute, including poor documentation of the retainer and advice, as well as general economic conditions.
Sample audit program templates The revised Sample audit programs small to medium entities online manual contains templates and sample audit programs applicable to a number of entities.
Directors' and officers' insurance fact sheet online A fact sheet on directors' and officers' insurance is now available online for members who have been appointed directors and officers of non-profit or voluntary organisations.
Does your PI insurance include run-off cover? A practice needs to maintain insurance even after the business is closed as professional indemnity insurance is underwritten on a claims made basis.
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.
Professional accounting and corporate governance update Did you see the August edition of the Professional Accounting and Corporate Governance update? Each month the latest developments in financial reporting, ethics and professional standards, audit and assurance, corporate governance and corporate social responsibility are presented for members.
August included information on: simple business-to-government reporting; the latest IFRIC interpretations; discussion paper on IAS 19 employee benefits; IESBA independence proposals; new professional standards on valuation engagements; and improvements in corporate governance by listed entities.
Becoming a firm of the future
Get management expertise Understand you clients needs, compare how much assistance you are giving to each one and identify additional value-add opportunities with two products especially developed to improve business performance.
What is your practice really worth? Members can now access a summary of the results of the 2008 Public practice business valuations survey online.
Project places spotlight on rural and regional accounting practices Almost 2000 rural and regional accounting practices will soon be surveyed by mail with the aim of providing a more complete understanding of the range of services provided by country accounting practices, their staffing requirements and factors that challenge their ability to adequately meet current and future client requirements.
Employment options of mature accountants The employment options available for mature accountants will be the highlight of the full-day Shifting Gears workshops, to be held across Australia during August, September and November.
Australian master super guide 2008-2009 The leading handbook on superannuation in Australia provides a straightforward explanation of Australia's laws relating to superannuation. Using non-technical language with easy to follow examples, the guide includes commentary on the regulation and taxation of superannuation.
Biometrics and identify management workshop Find out more about biometric technologies, which are regarded as the ultimate solution to identity management, at the 'Biometrics and identity management' workshop in London on 14 October.
Overview of MASB Accounting Standards workshop Attend the 'Overview of MASB accounting standards for consolidated financial statements' workshop to find out about the significant changes taking place in the financial reporting framework of Malaysia.
The workshop will be held in Kota Kinabalu on Thursday 18 September and in Kuching on Friday 19 September.
Hong Kong standards workshops Workshops will cover the implementation of HKAS 32 Financial instruments: presentation, HKAS 39 Financial instruments: recognition and measurement and HKFRS 7 Financial instruments: disclosures, which have a significant impact on the accounting for financial assets and financial liabilities, including bank deposits, derivatives and financial guarantee contracts.
Forthcoming events
CPA Congress 2008 NSW set to innovate Organisers are expecting a 2500-strong crowd to attend this year's CPA Congress New South Wales held from 13 to 16 October in Sydney.
CPA Congress 2008 Victoria expects strong crowd Over 5500 international and local finance, business and accounting professionals are expected to attend CPA Congress Victoria 2008 held in Melbourne from 13 to 31 October. Speakers this year include former Collingwood Football Club captain Nathan Buckley.
Queensland CPA Congress 2008 heating up This year's annual CPA Congress 2008 Queensland is building steam with a range of international and national professionals from the finance, accounting and business sectors already expected to draw a 1500-strong audience when it runs in Brisbane from 14 to 17 October.
