PUBLIC PRACTICE

Managing your practice

Managing your practice

A practice built to last needs strong foundations. In this section you will find checklists, workpapers, guides and diagnostic tools to help manage your business for success.

To remain competitive, you need to regularly assess your business. From reviewing your structure, to growth opportunities, changes in technology and servicing your clients, below are some helpful resources. Good people are also key to a sustainable practice.

CLIENT SERVICES APPROACH

Client needs are changing – help them meet their personal and business goals and get to know what they need before they ask for it.

FIRM STRUCTURE

In deciding how to structure your firm, whether to open your own practice or to go into partnership with another, you need to consider it from all angles.

GROWING YOUR BUSINESS

To remain competitive and continue to grow your business, you need to revisit your fee base and provide value-adding services.

PEOPLE MANGEMENT

Recruiting and retaining employees has long been a challenge for public practice firms. Understand how your management can make you an employer of choice.

TECHNOLOGY

Technology is a key driver of change. It improves efficiency, cuts costs, is an essential enabler in the delivery of services, and maximises business profitability.

MY FIRM. MY FUTURE SERIES

Enabled by technology and an increasingly engaged public, practitioners are being confronted by rapid change on a daily basis. In response, CPA Australia has developed the new My Firm. My Future e-learning series to assist members in building a sustainable practice for the future.

Public accounting insurance

Professional Indemnity Insurance (PII) is mandatory for all CPA Australia public practice certificate (PPC) holders, as well as other members providing public, honorary or private accounting services, whether paid or unpaid.

PROFESSIONAL STANDARDS SCHEME

The CPA Australia Ltd Professional Standards (Accountants) Scheme (Scheme) caps eligible public practitioner’s civil liability to the amount of professional indemnity insurance required by the By-Laws. CPA Australia will pay the annual fee on your behalf based on your member profile but you also need to self-assess your eligibility and comply with the requirements to participate in the Scheme.

Quality review

The CPA Australia Quality Review Program offers public practitioners a constructive and educational opportunity to ensure highest standards and processes are consistently maintained.

Every member who holds a PPC is subject to the requirements of the Quality Review Program. The review cycle of one, three or four years will be determined by a risk assessment of the member, based upon the outcome of the practitioner's previous review.

ACCOUNTING PROFESSIONAL AND ETHICAL STANDARDS

CPA Australia members have a responsibility to act in the public interest and comply with the fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour in all their dealings. The APES 300 series applies to members in public practice.

Apply for a certificate

Application forms and prerequisites for other public practice related certificates, including a limited PPC, multi-disciplinary practice and trading with a non-member, are also available.