CPA Australia Best Practice Program
Content Summary
Access the Best Practice Program portal here
The CPA Australia Best Practice Program has replaced the Quality Review Program to deliver personalised support for business sustainability, ethical requirements and professional development.
This is a significant shift away from the obligation heavy quality review to a tailored program that focuses on supporting members to adopt best practice.
The benefits
The new CPA Australia Best Practice Program is leading the way for the profession and offers many benefits to you and your business:
- The new program considers the complexity of your business and adjusts the level of review accordingly, resulting in a more streamlined and intuitive process.
- An investment in new technology provides a better user experience, making file sharing and progress tracking simple, efficient and secure.
- Based on an initial self-assessment, you will be matched with an experienced assessor aligned to your business needs.
- The comprehensive and holistic support model, including a Support Plan, will connect you to key resources, tools and continuing education to future-proof your business.
The assessment process
You should expect to undergo an assessment every three, five and seven years depending on the complexity of your business.
When selected you will:
- Receive an information pack including a confirmation of details form to enable us to match you with the best assessor for your business needs.
- Once matched, your assessor will contact you to schedule your face to face or online assessment. They will also schedule a planning meeting online at a convenient time two weeks prior to your assessment.
- You will be asked to complete a self-assessment to determine what your business needs are, and to share documents with us to help us better understand how you operate your business.
After your assessment you'll receive a Support Plan including recommendations for resources and tools to support your business.
Common findings
An annual summary of the common findings of the Best Practice Program are below:
Public Practice & Professional Standards update
Access tool and resources to ensure ongoing compliance
Risk Management Framework Tool
This online tool helps you develop a custom Risk Management Framework for your practice
System of Quality Management Tool for public accounting services
Factsheet provides an overview on 'Who is impacted and types of engagements' as well as the 'Application of quality management standards (AQSM 1 and APES 320) by firms'.
More information
If you have any questions or would like to know more about the CPA Australia Best Practice Program please email [email protected].
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