INPRACTICE
Content Summary
December 2023
FMA to step up audit review frequency
Quality management and risk assessment are this year’s focus areas for the New Zealand regulator
- Audit
articleHere's what happened in public practice in 2023
History shapes how the future pans out. This year the professional accounting landscape was well-populated with news and regulatory changes on the tax, audit and technology front. Here’s a chance to catch up on events and anticipate 2024.
- Public practice
articleHow pre-insolvency consultants can cost a distressed small business
When it comes to giving insolvency advice, a qualified, registered practitioner is essential. Here’s how the situation can go awry with the wrong sort of advice.
- Insolvency
articleRecap: What happened in New Zealand public practice in 2023
History shapes how the future pans out. This year the NZ professional accounting landscape was well-populated with news and regulatory changes on the tax, audit and technology fronts. Here’s a chance to catch up on events and anticipate 2024.
- Public practice
article
November 2023
A warning on hoarding data: Your clients are in danger
Treat client data and tax records just like uranium - dispose of it carefully and keep your practice safe from data breaches. Here’s some expert advice.
- Data management
- Practice management
articleIs outsourcing the key to accounting staff shortages?
Offshoring may be an option for resource-strapped practices, but success might depend on the model you choose. Here’s why.
- Practice management
articleSME tax amnesty deadline looms
Some 9500 small businesses have taken advantage of the ATO amnesty period. Some still have their heads in the sand.
- Taxation
article
October 2023
Carbon accounting and ESG is where the clients are
In the near future SMEs may need to calculate their carbon footprint. Here’s how your skills can help.
- Environment and Sustainability
articleCyber security tips for your practice
From invoice fraud and data theft to phishing scams, here’s how to protect your accounting firm.
- Practice management
article·Published onHas the bright-line property rule failed the test?
Cash flow, not tax policy, is the key driver for NZ property investors. Here’s why.
- Taxation
articleMore work needed on the Taxation Principles Reporting Act
How will the new tax principles regime affect the way the NZ Inland Revenue generates and uses tax data?
- Taxation
articleWhy you should be careful with family trust distributions
When it comes to trusts beware the ATO red zone, which can trigger s100A or Part IVA. Here’s what to consider.
- Taxation
article
September 2023
Audit quality in the spotlight
CPA Australia has a tool to help auditors move mindsets from quality control to quality management
- Audit
- Professional standards
articleProfessional standards for audit under the spotlight
Auditors take note: a risk-based iterative method of quality management is now mandatory
- Audit
- Professional standards
article·Published onSmall business feels the squeeze as accountants feel the pressure
Insolvency returns to pre-COVID levels, while tax debt and bank referrals equate to busy times ahead.
- Insolvency
articleWatertight accountant engagement terms needed
A recent PI claim shows the consequences of straying outside the scope of work. Here’s what to avoid.
- Practice management
article·Published on
July 2023
How to spot financial distress in your small business client
Here’s how monitoring the early signs of financial distress can help save a client from insolvency.
- Small Business
article·Published onLenders and banks escalate demands for accountant’s letters
Why a growing insistence from financial institutions for accountant’s letters is dangerous territory.
- Public practice
article·Published onMum and Dad trusts bear the brunt of NZ trust tax rate hike
Why tax advisors are adamant that a recent tax change will not affect high net worth individuals.
- Taxation
article·Published on
June 2023
More upward pressure ahead for New Zealand accounting salaries
Many employers expect to offer higher pay to NZ accountants, according to recruiter surveys.
- Public practice
article·Published onSmall business clients need help with more than just the numbers
Survey reveals the trends shaping accounting practices, among them a demand for IT support and HR.
- Small Business
article·Published onWhat to do when the ATO comes calling
GST and personal income tax are in the regulator’s sights. Here’s what to do.
- Taxation
article·Published on
May 2023
Can you use AI and ChatGPT in your accounting practice?
While AI can't replace you on tax, technical and advisory, there are some time-saving benefits.
- Technology
- Practice management
article·Published onFair Work Act amendments – an end to fixed-term contracts?
How sweeping new changes, including sexual harassment and pay secrecy bans, affect your business.
- Business law
article·Published onSmall business clients in Privacy Act crosshairs
Hold on to that tax file number! It’s never been more important to abide by privacy laws.
- Business law
article·Published onSmall business lags behind in online business technology
How public practitioners can help their small business clients.
- Small Business
article·Published onTax year-end Australia: what’s the ATO’s focus this year?
With the LMITO to go and WFH expenses scrutinised, there’s lots to look out for this tax season.
- Taxation
article·Published onWhy New Zealand small businesses need help with technological change
A CPA Australia survey reveals where small business needs support. Here’s how accountants can help.
- Small Business
- Technology
article·Published on
April 2023
5 practice management tips
Here’s how to keep your clients happy and your practice profitable, all at the same time.
- Business management
article·Published onATO deals with 3 million cyber attacks each month
Here’s why tax accountants are also prime targets for hackers and how ATO protective measures work.
- Data management
article·Published onCautious lenders equal tough times for SMEs
Taking on fresh debt or equity is viable but the root cause of cash flow problems needs questioning.
- Business management
article·Published onDisaster recovery for SMEs after Cyclone Gabrielle
Accountants can play a key role in helping SMEs plan how or whether to reopen in the aftermath
- Disaster recovery
article·Published onHow interest rates hikes are affecting SME financing
With lenders increasingly cautious, cash flow control may be a major option for your clients.
- Economy
article·Published onHow to calculate crypto losses
The crypto market has always been volatile but come tax time be prepared to report on client losses
- Taxation
article
March 2023
Accountants hit by 45 per cent penalty tax on superannuation
See why CPA Australia is arguing that the NALI provisions should be repealed.
- Superannuation
article·Published onATO clarifies s100A but raises some eyebrows
Here’s what tax experts have to say about the ATO’s new guidance on section 100A of ITAA 1936.
- Taxation
article·Published onHow consumer data rights will affect your client
Open banking could offer clients more competitive overdrafts and business financing. Here’s why.
- Business finance
- Data management
article·Published onPros and cons of the new WFH method
Meticulous record-keeping is now essential under new working from home compliance obligations.
- Taxation
article·Published onRising accountants’ salaries test smaller practices
Here’s what smaller firms can do to preserve their bottom line.
- Careers
article·Published onWhen insolvency threatens, be open and honest
Attend to basics, act early and don’t avoid hard conversations with clients in financial distress.
- Insolvency
article·Published on
February 2023
How accountants can handle client insolvency
Accountants need to be upfront with clients whose businesses are in trouble. Here’s why.
- Insolvency
article·Published onIRD pushes into data matching to tackle black economy
Six-monthly merchant transaction information needed from banks and other payment services providers.
- Technology
article·Published onNew Zealand tax year-end checklists 2023
A wealth of CPA Australia resources is available for practitioners as the tax year-end approaches.
- Taxation
article·Published onNew Zealand's 2023 legislative outlook
GST, income insurance, money laundering and other matters are all on this year’s legislative agenda.
- Taxation
- Economy
article·Published onPersonal services income explained
A new ATO ruling seeks to create a fairer playing field when it comes to personal services income.
- Taxation
article·Published on
December 2022
ASIC audit firm inspections: timely heads-up for smaller firms
When it comes to improving audit quality, there are good reasons to act now rather than later.
- Audit
article·Published onBe prepared if cybercrime hits your firm
How accountants and their clients can have strong defences in the event of a cyber attack.
- Data management
article·Published onData security and compliance key to holiday shutdowns
Three accounting practices share tips on what to do before closing the office for the festive season
- Practice management
article·Published onEinvoicing made easy
When it comes to einvoicing, take-up has been slow. Here’s how accountants can help.
- Accounting systems and processes
article·Published onFMA shifts audit quality focus as new control standard kicks in
The NZ regulator says there’s room for further improvement in audit firms’ procedures.
- Audit
article·Published on
November 2022
Anti-money laundering and counter-terrorism financing exemption for NZ accountants
An anti-money laundering compliance burden has been lifted from practices carrying out ‘low risk’ tax transfers.
- Overseas taxation law
article·Published onCrypto taxes regulators
The ATO is struggling to keep pace with the digital asset ecosystem. Here’s why a staged approach may work.
- Taxation
article·Published onDirector responsibilities for cyber security
A spate of high-profile data breaches reveal how vital it is to take reasonable care. Here’s how.
- Governance and risk
article·Published onNew IRDNZ GST tax invoicing rules – what’s changing, what’s not
Businesses won’t have to change the way they invoice but will soon have to accommodate those that do.
- Taxation
article·Published onUrgent review of sophisticated investor criteria needed
Many clients now qualify as sophisticated investors. Here’s why it’s important to exercise caution.
- Financial planning
article·Published on
October 2022
8 ways cyber security keeps your firm from becoming another Optus
Learn how to safeguard your practice and client records from ransomware attacks and more.
- Practice management
article·Published onDirectors’ responsibilities – what your client needs to know
Company directors have until November to register for the new ID. Here’s how to advise laggards.
- Governance and risk
article·Published onFive everyday risk management issues for accounting practices
Some major risk-related issues just keep cropping up. Here’s how to mitigate them.
- Governance and risk
article·Published onSkills shortages: Could employee share schemes be the answer?
Here’s why two Kiwi firms believe sharing the company can attract talent.
- Practice management
article·Published onWhy a bigger focus on ESG could leave SMEs out in the cold
Here’s why ESG should be added to your business strategy.
- Business advisory
article·Published on
September 2022
Cash flow woes point to more insolvency in New Zealand
Current statistics paint a rosy picture for SMEs, but are institutions just kicking the can down the road?
- Insolvency
article·Published onFive ways to attract the perfect accounting candidate
Workplace flexibility is the key for smaller practices attracting staff during a skills shortage
- Careers
article·Published onHow to build a progressive accounting practice
An award-winning public practitioner explains how accountants build communities, not just businesses.
- Practice management
article·Published onTime to rethink professional indemnity insurance
Here’s why accountants are in the liability crosshairs.
- Public practice
article·Published onWhat happens when a SMSF member dies?
Some death benefit wishes can be open to legal challenge. The devil is in the trust deed detail.
- Superannuation
article·Published on
August 2022
Auditing Standard ASQM 1: Far more than a checklist
It has a caveat, but audit firms can gain valuable, scalable benefits from a new quality standard
- Audit
articleFMA ups the ante on cyber security
How financial firms are bearing the brunt of escalating attacks by cybercriminals.
- Technology
article·Published onHelping accountants by becoming an external assessor
Learn why getting involved in the CPA Australia Best Practice Program can reap big dividends.
- Practice management
article·Published onRising salaries create an accounting wage expectation gap
Economic headwinds such as inflation are increasing operating costs for accounting firms.
- Practice management
article·Published onSalaries in accounting: Jobseekers hold sway in skills crunch
Accounting salaries are rising – but there’s more to recruiting and retaining staff than just money.
- Practice management
article·Published on
July 2022
ATO steps up credit agency reporting on tax debts
Some 70,000 businesses have been warned about their tax liabilities. Here’s why urgent action is needed
- Taxation
article·Published onIRD examines taxing the gig economy
Digital platforms face new rules that may require them to report sales income and collect GST.
- Taxation
article·Published onRaft of super changes heading your way
Practitioners should alert clients about possible benefits from new changes in superannuation legislation.
- Superannuation
article·Published onRegulators tighten their grip on cryptocurrencies
Widely used and under scrutiny, here's what practitioners need to know about crypto.
- Digital transformation
article·Published onSpecial purpose financial reporting removed for AFSLs
From 1 July, some for-profits can longer prepare SPFS. Here’s what the changes mean.
- Financial reporting
article·Published onWhy accountants’ letters don’t offer financial guarantees
Here’s how to respond to requests from clients for capacity to repay certificates.
- Business finance
article·Published on
June 2022
ATO cracks down on crypto assets this tax time
Clients need to understand their CGT obligations for buying, selling, and even donating crypto assets.
- Taxation
article·Published onHow the accounting profession can succeed at succession planning
Beat the demographic ‘bulge’ and start planning. Here’s what your plan should include.
- Practice management
article·Published onShareholder agreement key to avoiding family business disputes
Here’s why accountants are in a good position to help protect clients from drawn-out disputes.
- Business management
article·Published onSuperannuation Guarantee increase poses new risks
Employers and those on the payroll need to be across what the hike in SG payments may mean for them.
- Superannuation
article·Published onWill digital tax pave the way for automation?
Here’s how a paradigm shift in tax administration might affect tax advisers.
- Taxation
article·Published on
May 2022
ATO ramps up tax debt retrieval
Recalcitrant taxpayers need to come clean on their tax liabilities before it’s too late.
- Taxation
article·Published onCalling on early-career, progressive public practitioners
Be nominated or self-nominate for an award recognising innovation and a progressive mindset.
- Practice management
article·Published onCybercriminals target accounting firms
Data breaches are becoming more sophisticated. Here’s how to amplify your firm's cyber security.
- Practice management
article·Published onHow to deal with unwelcome Division 7A tax breaches
Have you inherited a client that has past Division 7A surprises? Here’s how to handle it.
- Taxation
article·Published onNew CPA Australia Quality Review Program is rolled out
Here’s why the quality review process has been completely overhauled.
- Practice management
article·Published onNew Zealand entrepreneurs face ‘distortionary’ tax rules
Proposed tax measures will impose high compliance says a CPA Australia submission.
- Taxation
article·Published on
April 2022
Family trust distributions – what accountants need to consider
An ATO guidance package clarifies client trust dealings
- Taxation
article·Published onFBT deadline looms
Are your clients offering increased job perks? Here are the key issues to be aware of at FBT time.
- Taxation
article·Published onThink outside the square on the accounting skills shortage
Here’s how some New Zealand and Australian public practitioners deal with the scarcity of staff.
- Practice management
article·Published onWhy NZ businesses need to invest in small business technology
Urgent need for investment in digital technology and cyber security.
- Practice management
article·Published on
March 2022
E-invoicing shrugs off a slow start to gain steady traction
Despite its cost-saving potential, only a few private businesses have opted to adopt electronic invoicing.
- Accounting systems and processes
article·Published onFederal Budget 2022-2023: CPA Australia urges targeted support for small businesses
Along with targeted Covid-19 support, there’s a case for helping SMEs access business advice.
- Budget
article·Published onPressure points simmer in the ATO lodgment system
Hard-pressed tax practitioners have called on the ATO to exercise more understanding and flexibility.
- Taxation
article·Published onToo many accounting jobs, too few staff: why staff retention is key
Smaller practices on both sides of ‘The Ditch’ are dealing with a perfect storm of staff shortages.
- Practice management
article·Published on
February 2022
ATO tightens the screws on international tax
Do you have clients with thorny repatriation tax problems? Here’s how one practitioner handled it.
- Overseas taxation law
article·Published onCPA Australia’s Best Practice Program kicks off
New practitioner support program moves out of the beta phase with a host of innovative offerings.
- Practice management
article·Published onHow CDR rules affect you and your clients
Trusted advisers are front and centre when dealing with financial providers on behalf of clients.
- Public practice
article·Published onNew ATO PCG mitigates risk for professional firms
ATO steps up efforts to address high-risk profit allocation with its Practical Compliance Guideline.
- Taxation
article·Published onNew Zealand economy 2022: trends, policies, legislation
Climate change, COVID and rising interest rates are likely to dominate the New Year economic outlook.
- Public practice
- Taxation law
article·Published on
December 2021
Can accountants advise on state taxes?
When your clients need help with state taxes it might be best to call a lawyer.
- Public practice
- Taxation
article·Published onDirector identification number is now a legal requirement
Why now is the perfect time to update company director clients on their new obligations.
- Corporation law
- Public practice
article·Published onExemptions for insolvent businesses advocated
The Financial Markets Conduct Act 2013 requirement for insolvent companies to report is unduly onerous.
- Public practice
- Financial reporting
article·Published onPublic practitioner profile: 6 questions with Gareth Yaxley CPA
Meet the founder of a Gisborne CPA firm that focuses on business health for SMEs.
- Public practice
article·Published on
November 2021
Public practitioner profile: 6 questions with Ann-Maree Ozanne CPA
We quiz a Christchurch-based practitioner who, after the 2011 earthquake, found her firm ready for a pandemic.
- Public practice
article·Published onCan New Zealand employers mandate staff vaccination?
CPA Australia is working with a New Zealand law firm on the thorny issue of mandatory COVID-19 vaccinations.
- Public practice
- Current issues
article·Published onCan you mandate staff vaccinations?
CPA Australia is developing employee vaccination guidance, suitable for both practices and their clients.
- Public practice
- Current issues
article·Published onDon’t be left in the dark on merchant services providers
Be cautious helping clients with payment gateways. It could constitute financial product advice.
- Business finance
article·Published onFee threshold on SMSF audits stokes industry angst
Many are vexed by proposed fee-related provisions aimed at reinforcing auditor independence.
- Audit
- Superannuation
article·Published onNew Zealand Government pushes ahead on housing tax policy
Complicating tax legislation for investors is not the right way to curb upward pressure on house prices.
- Taxation
- Public practice
article
October 2021
Public Practitioner Profile: 6 questions with Angus Ogilvie FCPA
In the first in a series of mini profiles of New Zealand-based practitioners, we quiz an Aucklander.
- Public practice
articleCounting on U provides mental health support in tough times
Here’s how practitioners can help clients struggling due to lockdowns.
- Mental health
- Public practice
article·Published onDo you have the right advisory tools?
You may already have the software you need to build your advisory business. Here’s how to find out.
- Technology
- Public practice
article·Published onNew move to permanent virtual AGMs
Government initiatives towards technology neutrality laws continue. Here’s how AGMs could operate in the future.
- Governance and risk
- Public practice
article·Published onTime to get set for superannuation stapling
Employers will soon need to comply with a new super stapling regime. It’s not without pitfalls.
- Superannuation
- Public practice
article·Published on
September 2021
6 tips for using electronic signatures
E-signatures can be used to witness some documents. Here’s what the law says.
- Technology
- Public practice
article·Published onATO’s non-arm’s length income ruling causes SMSF uproar
The ATO’s controversial ruling could have significant ramifications for super funds.
- Superannuation
- Public practice
article·Published onSuccession planning key to sudden firm exits
Only 42 per cent of public practitioners have a succession plan. Here’s why you need to think ahead.
- Practice management
- Public practice
article·Published onUnderstanding how to price advisory services
Three CPAs with buoyant advisory businesses reveal their pricing methodologies.
- Practice management
- Public practice
article·Published on
August 2021
ATO steps up efforts to reclaim debt
If your clients have ATO debts, or have failed to lodge returns, it has a simple message – “get in touch”.
- Taxation
article·Published onAuditing standards failure leads to criminal conviction of auditors
Failure to apply auditing standards has led a Sydney audit firm into hot water.
- Audit
- Insolvency
article·Published onFinancial and investment advice: What not to say to your clients
As these legal cases show, investment and financial advice are just some of the areas that can trip practitioners up.
- Ethics
- Professional standards
article·Published onACNC review: NFPs outside the charity space can learn from these mistakes
Related party disclosures are the most common errors in financial statements, says charity regulator.
- Not for profit
- Financial reporting
article·Published onNZ Government urged not to rush housing crisis tax policy
Efforts to help with housing affordability are laudable, but these tax initiatives may not be the answer.
- Taxation
- Public practice
article·Published onVale Murray William Wyatt FCPA
A strong advocate for public practitioners and the accounting profession has sadly passed away.
- Public practice
articleWhat financial advice can New Zealand practitioners offer clients?
Financial advisers are subject to a code of professional conduct. What exemptions apply for accountants?
- Public practice
article·Published on
July 2021
Australian Accounting Awards announced
Which CPAs were recognised as the best in 2021?
- Public practice
- Practice management
article·Published onCompanies find temporary relief due to auditor shortages
COVID-19 has stopped auditors coming into New Zealand. Now the regulator is offering some respite.
- Audit
- Public practice
article·Published onHow to protect your practice and clients from cyber attacks
Accountants are a prime gateway for cybercriminal activity. Here’s how to repel hackers.
- Practice management
- Public practice
- Technology
article·Published onReasonable care key for practitioners at 2021 tax time
Here are the major changes this tax season and why reasonable care is recommended.
- Taxation
- Public practice
- Practice management
article·Published onWage theft bill heralds underpayment scrutiny
Some states are ramping up wage theft legislation. Here’s what clients need to know about the penalties.
- Public practice
- Business law
article·Published on
June 2021
Dive into the ATO’s top areas of focus for 2020–21
Individuals’ work-related expenses is just one area of scrutiny. Here’s what’s in store this tax season.
- Taxation
- Data management
article·Published onFinancial services: Making sense of coming legislative changes
Here’s how Financial Services Royal Commission recommendations affect the future of professional advice.
- Financial planning
- Public practice
article·Published onNZ IRD targets family trusts in tax bracket overhaul
See why extra details are now needed in tax returns.
- Taxation
- Public practice
article·Published onUnderstanding changes to the employer super guarantee
Practitioners need to alert small business clients to the superannuation changes. Here’s how they apply.
- Superannuation
- Taxation
article·Published onWhy ethical letters are vital in new client relationships
Due diligence is key when taking on new clients. Here’s the recommended client onboarding process.
- Ethics
- Practice management
article·Published on
May 2021
Understanding the market for small business loans in 2021
The SME appetite for credit has increased in the wake of COVID-19. Here’s what lenders want in return.
- Small Business
article·Published onHow to build a case for a business interruption insurance claim
If you have clients with failed BI insurance claims, the best advice is to scrutinise policies and document all COVID-19 activity.
- COVID 19
- Small Business
article·Published on
April 2021
Why director accountability is on the regulator radar
Here’s what your clients need to know about director resignations and anti-phoenixing laws.
- Insolvency
article·Published onHow accounting practice teams are changing in 2021
2020 changed how many accounting practices manage staff and client contact. Here are some key takeaways.
- Practice management
article·Published onProfessional indemnity insurance costs set to rise
Practitioners are urged to re-examine their risk profiles in the light of increasing insurance costs.
- Public practice
- Accounting theory
article·Published onATO runs the ruler over SMSF audits
With a 1 July deadline, the ATO prepares to step up its scrutiny of accounting firms that prepare accounts while providing audit services to SMSF clients.
- Audit
- Superannuation
article·Published onFailed JobKeeper applicants may get second chance
The Full Federal Court has instructed the Commissioner of Taxation to exercise his powers of discretion regarding JobKeeper.
- Small Business
- COVID 19
article·Published on
March 2021
What the end of special purpose reporting means for your clients
Which clients will be affected by the removal of the special purpose financial reporting framework?
- Financial reporting
article·Published on5 tips to get your accounting practice ready for anything in 2021
Expect unpredictability. Here are the best ways to implement rock-solid contingency plans for your firm.
- Practice management
article·Published onATO’s data matching ramps up and focuses on SME reporting
Here’s how to ensure your clients are correctly accounting for their income and use of assets.
- Taxation
articleHow to help small business clients understand insolvency options
Here’s a lowdown of restructuring options for vulnerable SME clients.
- Insolvency
article·Published onNew Zealand’s Inland Revenue targets tax compliance burden
IRD seeks input from tax practitioners and professional bodies as part of its bid to improve service.
- Taxation
article·Published on
February 2021
New cash flow management help for SMEs
The ATO’S Cash Flow Coaching Kit is designed to help SMEs get back on track. Here’s how it works.
- Business finance
article·Published onHow new measures safeguard cloud computing data
With cloud computing and outsourcing on the rise, here’s how to ensure the security of clients’ data.
- Ethics
- Technology
article·Published onMajor changes ahead for CPA Australia’s Quality Review Program
Our Quality Review Program has been transformed to ensure member support is at its core. Here’s what you need to know about the CPA Best Practice Program.
- Practice management
article·Published onTPB review: What it means for tax practitioners
The final report of the Review of the TPB has many noteworthy recommendations but more consultation is needed on implementation.
- Taxation
article·Published on
January 2021
Delivering mental health support to accountants and clients
Accountants and their clients don’t have to deal alone with the mental traumas many had to endure in 2020.
- Mental health
- COVID 19
article·Published onLenders put practitioners in the due diligence hot seat
Loosening lending rules in tough economic times may encourage creditors to further rely on “capacity to repay” certificates. Should accountants comply?
- Business finance
article·Published onSmall business trends 2021: Advisers prove the key to survival
Practitioners’ efforts in 2020 helped many SME clients. Here’s a look at what 2021 forecasts.
- Disaster recovery
article·Published onJobKeeper eligibility: test case opens the door to claims
If your clients were rejected for JobKeeper in 2020, an AAT decision and tax ombudsman’s report show their plight deserves a second look.
- Accounting systems and processes
article·Published on
December 2020
How to build a team in tricky circumstances
The near-universal acceptance of remote working has also forced new ways of team building.
- COVID 19
- Business management
article·Published onFinancial advice: giving clients what they need
Professional advisers could offer a host of advice to consumers and small businesses if the Australian Government and regulators listen to the needs of clients, CPA Australia research has found.
- Business finance
- Business advisory
article·Published onWhy business advisory is a key future service offering
2020 changed the way many practitioners service clients, with business advisory central to the new mix.
- Business advisory
article·Published onHow will a two-tiered insolvency regime work?
Practitioners play an important role, whether it’s upskilling or guiding clients to the right solutions.
- Business law
- Business finance
article·Published onLessons from 2020 for accountants and SME clients
Out of adversity comes knowledge. What has been learnt during this tumultuous year?
- Business advisory
article·Published on
November 2020
Accountants as executor: Will I or won't I?
PII usually covers accountants working in an official capacity, but not if they accept a private executorship. Think hard before accepting what may be a challenging and time-consuming role.
- Business management
article·Published onTop tech tools for a flexible workforce
As accounting firms rely on employees to work remotely, are they giving them the tools to work well?
- COVID 19
- Business management
article·Published onHealing the cracks in your workplace culture
Practitioners report low staff morale and a decline in productivity. Here’s how to turn it around.
- COVID 19
article·Published onCasual leave entitlement ruling could hit SME cash flows
Federal Court decision sets precedent for casual employee work entitlements. Here’s how to help clients.
- Small Business
- Business advisory
article·Published onATO payment plans come with strings attached
The ATO is likely to be sympathetic but will need convincing documentation to justify decision-making.
- Taxation
- Public practice
article·Published onTax compliance issues still a priority for ATO and TPB
Tax practitioners are at the frontline of the response to business lockdown, report tax regulators.
- Economy
- COVID 19
article·Published on
October 2020
CPA Australia peer-to-peer platform launches
Staying connected with colleagues is vital. A new platform makes keeping in touch much easier.
- COVID 19
- Personal and career development
article·Published onMental health and small business: supporting SME clients in tough times
Accountants are not mental health professionals but there are some ways you can support your clients.
- Accounting systems and processes
- COVID 19
article·Published on“One extreme to the other”: how accountants and their clients are faring
Practitioners and their clients share how they’ve navigated the ups and downs of a tumultuous year.
- COVID 19
article·Published onWhat’s new in Jobkeeper 2.0?
The extension is welcome news but there’s effort involved in navigating the two-tier payment system.
- COVID 19
- Disaster recovery
article·Published onGovernment throws small business an insolvency lifeline
Australia has scrapped one-size-fits-all insolvency. What does this offer to small businesses in trouble?
- Insolvency
- Small Business
article·Published on
August 2020
Navigating recession and recovery in the 'new normal'
INPRACTICE checks in with two practitioners to see how they and their clients are going about business.
- Business finance
- COVID 19
article·Published onATO taskforce ups the ante on illegal phoenixing
During economic turmoil, illegal phoenix schemes pop up. The Phoenix Taskforce’s role is to unearth them.
- Taxation law
- COVID 19
article·Published onNavigating NZs business support packages
Fiscal year-end, lockdown and a raft of COVID-19 support packages is just the tip of the iceberg.
- COVID 19
- Business finance
article·Published onJob Prospects for Young Accountants
30-something New Zealand-based practitioners talk careers, working from home and what the future holds.
- Careers
- COVID 19
article·Published onAccountants' insurance premiums on the rise
As economic downturn creates a rise in PI claims, practitioners need mitigation plans. Here are a few.
- Practice management
- COVID 19
article·Published onWhat makes an award-winning accountant?
See what all five of these Australian Accounting Award-winning practitioners share.
- Practice management
- Public practice
article·Published onSME grants for solving environmental issues
The Australian Government is turning to small businesses to help with environmental innovation.
- Business management
article
July 2020
How accountants can help with clients' exit strategies
Australia’s return to normalcy makes for an ideal segue into delicate wind-up discussions with clients.
- Business advisory
article·Published onHelp for NZ businesses facing insolvency – with strings
Despite efforts of the New Zealand government to help struggling companies, there is no “get out of jail free” card.
- Insolvency
- COVID 19
article·Published onTax time in a post-COVID world
Three practitioners reveal how they interacted with clients during tax time.
- COVID 19
- Taxation
article·Published onBushfire recovery: a hard and slow rise from the ashes
Public practitioners share how their clients are coping after bushfires and COVID-19
- Disaster recovery
article·Published onRestructured code of ethics clarifies SMSF audit independence issues
Public practitioners with SMSF clients will need to review engagements where the firm conducts the accounting and audit. Here are some of the new requirements coming out of changes to the restructured code
- Audit
article·Published onEmerging from lockdown: recovery, and then business renewal
CPAs in New Zealand reveal how they and their clients are rebuilding their businesses.
- Business advisory
- COVID 19
article·Published onThe key to managing remote work staff and clients? Be prepared
Two public practitioners share their views on how to manage the team and clients when times are tough.
- Business management
- COVID 19
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