Institute of Certified Bookkeepers

Financial Statements and Members Meeting Minutes

The Institute of Certified Bookkeepers is proud to provide fully detailed financial statements on an annual basis.

Click on the link below for details of ICBs 2016 Financial Statement

Members Meeting Minutes - Click on the link below for details.

ICB Constitution

Click here to download this article.

BAS Agents and Tax Agents

BAS Agent Certificate

ICB is a registered BAS Agent which allows ICB to advise in relation to BAS Agents and BAS Services.

Tax Agent Certificate

ICB is a registered Tax Agent which allows ICB to advise on areas that cross over into income tax matters and related areas that are wider than BAS services.

ICB is a Recognised BAS Agent Association

The ICB was advised Tuesday 18 May 2010, that the Tax Practitioner Board (TPB) has recognised ICB under the Tax Agent Services Laws.

ICB continues to grow and develop as more and more bookkeepers (including BAS Agents) recognise the value of a true bookkeeping association that is about bookkeepers helping bookkeepers.

To be a Recognised Association the TPB had to be satisfied that:

  • ICB was properly managed and its internal rules enforced
  • ICB has professional and ethical standards including:
    • 15 hours of continuing education required
    • members are of good fame, integrity and character
    • if in practice then the member has Professional Indemnity Insurance
  • ICB has a satisfactory complaints handling and notifying process
  • ICB is able to pay its debts as and when they fall due

There are other areas of the law and other requirements. The Tax Agent Services law allows the board to recognise associations as being representative of the agents which are now needing to be regulated.

By being a Recognised BAS Agent Association (RBAA), voting members of ICB are now recognised for their added commitment to be creditable and professional in the conduct of their business. At the time of registration a voting member is only required to have 1000 hours relevant experience in the last 3 years (compared to 1400 hours for those not voting members of a RBAA.

The only other real consequence of being an RBAA is that the new laws more formally allow the TPB to work a little more closely with us in the recognition of education and training.

Other associations have also been granted "Recognised status".

ICB continues to represent bookkeepers and BAS Agents to the TPB as a member of the TPB Consultative Forum.

ICB continues to be an association of bookkeepers for bookkeepers. We are comprised of bookkeepers at all levels of expertise and qualification.

ICB Disclosure Statement on Software Company Allegiances

The Institute of Certified Bookkeepers has since its establishment in Australia sought to develop and maintain positive strategic engagement and relationships with the key software suppliers to the Bookkeeper market and therefore the small business market.

These key relationships are about obtaining and providing strategic information for bookkeepers and includes ICB representation to the companies on behalf of bookkeepers and the provision of information by the companies into ICB knowledge base. The relationships have included the sharing of information and has assisted in the production of “How to guides” and manuals.

In the early days as a means of enabling more activity ICB has sought financial support from the software companies to allow us to provide more resources to Bookkeepers.

The financial support has taken the form of annual strategic partnership funding and/or fees for specific participation in conferences and/or advertising in conference manuals and/or specific project funding.

In the ICB financial year ended 31 December 2012 the financial sponsorship provided by software companies in total amounted to approx. $44k or less than 4% of total revenue.

Specifics

MYOB have been a strategic partner and financial supporter of ICB since inception including annual sponsorship and participation in conferences. They are the program sponsor for our Network meetings.

Intuit have become a strategic partner and sponsor since their launch into Australia in 2011.

Reckon have been a strategic partner and sponsor since the launch of ICB (with a break in the financial sponsorship during part of 2012 and early 2013.

Xero have been a strategic partner since 2010 and including the early part of 2013.

GovReports is a different style of strategic partner where ICB works with them to bring a solution to ICB Members at a preferential pricing and also ICB receive a commission based on ICB member take up of their products.

Various other solutions are researched and advised by ICB when we see them being a solution of value and good information to ICB Members. This may or may not have any relationship between ICB and the provider. Some times this may include the solution provider paying for participation at our conferences and on very few occasions there has been newsletter sponsorship payments.

Participation at our conferences is based on ICB selection of information and value benefit to the members. We do not accept every product nor partner to be at our conferences.

ICB very consciously do not position and advise on any software solution because of any marketing or financial incentive. We have in the past not continued in a strategic partnership due to the marketing messages and direct access to the ICB member database requested. ICB exist for Bookkeepers, their benefit and to provide unbiased information to them. Accordingly we do not put information before you based on commercial rationale alone.

Our advice and information is based on the information and development needs of Bookkeepers, in particular ICB members.

Myths about ICB

What is the link between ICB and MYOB?

ICB Australia was formed through initiatives of the ICB in the UK. ICB Global was observing the development of the bookkeeping industry in Australia and with the development of the new BAS Agent legislation felt it was a good time to bring their experience and assistance to the bookkeeping community in Australia.

ICB Global approached the largest significant bookkeeping related organisation in Australia being MYOB to assist it in understanding and finding the appropriate approach in Australia.

Matthew Addison (now the Executive Director of ICB) has been associated as a consultant and advisor to MYOB for a long time and was involved in setting up their Certified Consultant program and running many seminars for them. MYOB suggested ICB Global make contact with Matthew.

Today ICB Australia works closely with many parts of the bookkeeping industry. MYOB as the dominant supplier of business systems software into the Australian small business market and Reckon as the next largest provider both have strong involvements with ICB.

ICB Lobbies and assists MYOB in MYOB's provision of solutions to the bookkeeping community.

Is ICB in the MYOB building?

No and it never has been. ICB has its central office in Melbourne CBD and has had administrative offices in Mount Waverley and now in Ringwood.

Matthew’s previous Accounting Practice (Addison Accounting) provided significant service to MYOB since its inception until MYOB became listed. Addisons Accounting office was in the lower section of the same building as MYOB office in Burwood. Since Matthew sold his practice (early 2008) to concentrate on ICB he is based at the administrative office in Ringwood.

ICB was started and funded by MYOB?

No. ICB Australia was started and funded by ICB Global. ICB Global have provided the infrastructure, the website, the membership systems and continue to provide IT, WEB, Systems and resources to ICB Australia. All initial funding of ICB was from ICB Global.

MYOB have paid ICB when ICB have provided seminar content and services.

Matthew Addison also does promotional work for MYOB?

For the period of 1986 until 2005 MYOB did engage Addisons Accountants for many services, none of them were for MYOB promotional work. Over that time there were many engagements to present training and information at training seminars, especially during the implementation of GST.

Since the commencement of ICB, ICB has been involved in providing information and training into MYOB partner programs.

ICB directed by MYOB policy?

This is not correct. MYOB do not hold any formal nor informal position of influence over the direction and behaviours of ICB.

MYOB have come to recognise that ICB is the only bookkeeping association to truly represent the interests of professional bookkeepers and with 3000+ members and a positive financial situation they are the only creditable choice for anyone wanting to find out about bookkeeping issues. There is no formal relationship between MYOB and ICB.

ICB is funded by the Software Companies.

The Institute of Certified Bookkeepers has since its establishment in Australia sought to develop and maintain positive strategic engagement and relationships with the key software suppliers to the Bookkeeper market and therefore the small business market

These key relationships are about obtaining and providing strategic information for bookkeepers and includes ICB representation to the companies on behalf of bookkeepers and the provision of information by the companies into ICB knowledge base. The relationships have included the sharing of information and has assisted in the production of “How to guides” and manuals.

In the early days as a means of enabling more activity ICB has sought financial support from the software companies to allow us to provide more resources to Bookkeepers.

The financial support has taken the form of annual strategic partnership funding and/or fees for specific participation in conferences and/or advertising in conference manuals and/or specific project funding.

In the ICB financial year ended 31 December 2012 the financial sponsorship provided by software companies in total amounted to approx. $44k or less than 4% of total revenue.

Membership Statistics - 6,117 Members at 31st January, 2017

3,601 Members maintain Fellow, Member, Associate, Affiliate and Educator Membership.

ICB also has 18 Accredited Training Provider Members and 2,498 Student Members.

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