Indemnity reform cannot wait

Article Abstract:

The Institute of Chartered Accountants in Australia (ICAA) has set a mandatory level of professional indemnity cover, but chartered accountants are finding it difficult to provide essential services such as audit and tax advice, since they are badly affected by this indemnity cover. The ICAA has approved the essential elements of reform presented, and are calling on members, other professionals and consumers to continue to agitate for early adoption of these promised reforms.

Powers and duties, Financial institution charters

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Not such a super choice

Article Abstract:

An analysis of superannuation choice that will become applicable July 1, 2005 in Australia is presented. A word of caution to Australian accountants on the provisions related to this super choice is presented. Suggestions are also offered on the extent of advice that can be given by the accountants related to these self-managed super funds.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Economic aspects, Practice

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Charity cases. Heavier compliance duties and the growth of philanthropic group means that the not-for-profit sector is crying out for accountants

Article Abstract:

The not-for-profit sector accounts for 5% of the GDP according to the national accounts released by the Australian Bureau of Statistics. There is a shortage of accountants in this sector. The dilemma faced by accountants on charging the fees is examined.

Personnel administration, SOCIAL SERVICES, Social Assistance, Religious, Grantmaking, Civic, Professional, and Similar Organizations, Nonprofit Institutions, Social Services & Nonprofit Institutns, Human resource management, Compensation and benefits, Nonprofit organizations, Company personnel management, Political/non-profit organization software, Regulatory compliance

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