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Do I have to do a course to take an Institute examination? |
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No. It is not necessary to undertake a course of study. If you feel that you have sufficient knowledge to complete an examination, all you need to do is become a Registered Student and apply for the examination. |
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Is ICB 'directed’ by MYOB policy?
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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 1200 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 except for the practical assessments.
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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
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No! ICB Australia was started and funded by ICB UK. ICB UK 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 UK.
MYOB have paid ICB when ICB have provided seminar content and services.
MYOB now have entered a commercial relationship with ICB as part of the appointment of ICB as the accreditation body for the MYOB Approved Bookkeeper program
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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.
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What is the link between ICB and MYOB?
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ICB Australia was formed through initiatives of the ICB in the UK. ICB UK 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 UK 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 UK 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 MYOBs provision of solutions to the bookkeeping community.
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Do I have to be a member of the Institute to apply for an examination? |
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No. You are required to be a Registered Student to apply for an examination, and your registration period must be valid at the date of the examination. |
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If I am an accountant can I automatically become a member? |
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No. An accountant is obviously normally qualified to a far higher standard than a bookkeeper. However, the Institute needs to ensure that all applicants are competent bookkeepers and it could be that your accounting qualification did not cover bookkeeping in enough depth for our membership purposes.. You will therefore need to apply for membership, enclosing a copy of your CV, copies of any relevant qualification certificates and details of two referees who are willing to act as referees and who are familiar with your bookkeeping work carried out within the last two years. Both of your referees should be Chartered Accountant's. |
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Will my qualification taken with another organisation exempt me from the Institute�s examination?
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The Institute will only accept you solely on the basis of your qualification if it was awarded by a recognised awarding body and was completed within the last two years. You should provide relevent information to the Institute for consideration. You should then forward to the Institute COPIES, not originals, of your qualification certificates. An up to date CV and details of two referees familiar with work carried out by you within the last two years, will assist your application.
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Can I study bookkeeping in a college? |
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Most colleges will have a bookkeeping course of some description, so the best thing to do is make enquiries to colleges in your area. It is advisable that you take a copy of the Institute's syllabus with you to see if the course is suitable. The syllabus is available from the website
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How long will it take to complete a course? |
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The length of courses varies and your course provider will be able to advise you. If you are studying at a college, your course will normally take an academic year. If you are doing a home-study course you will be working at your own pace, so some may complete the course in 6 months and others over the course of several years. Rest assured that the Institute will be available to facilitate the successful completion of your qualification, whenever you are ready for the examination.
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If I am a member of the ICB, can I lodge BAS's? |
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The law restricts who is allowed to prepare a BAS on behalf of a client.
So it applies to subscontract bookkeepers and the like.
ICB Membership does not, nor does membership of any other Bookkeeper Association, lift that restriction.
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What happens if I fail an examination?
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If you do not meet the required standard, you will receive a fail notification and an application to resit the examination. You will be required to pay the standard examination fee for your next attempt.
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What happens if I do not complete my examination by the set time? |
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If you fail to complete your exam by the deadline date, your exam will be voided and you will be required to undertake a new exam, for which the standard examination fee will be payable.
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After I qualify, will I become a member automatically? |
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No, because membership is optional. If you do wish to become a member, you will be required to complete an application form or contact the Institute by telephone to upgrade your membership.
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After qualifying, do I need to upgrade my membership straight away? |
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No, but please note that the Institute will only accept you solely on the basis of your qualification if it was completed within the last two years, even if it is an Institute qualification. |
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If I become a member, do I need to pay the subscription fee every year? |
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Yes, you will be required to pay the annual subscription fee, on time, every year. We shall send you a reminder and a Membership Renewal Form for you to complete. If you do not pay your subscription fee, in full and on time, you will be required to cease membership and return your membership certificate and card. The qualification will still remain but you will loser entitlement to the designatory letters and all other benefits of membership. |
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If I am a self-employed member of the Institute do I need a Practising Certificate?
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Yes. All Institute members who are self-employed are required to hold a valid Practising Certificate and certificate of Professional Indemnity Insurance. The Institute can recommend an insurance provider that offers members a significant discount.
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Can I make payments to the Institute by Direct Debit? |
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Yes, please contact us for further details. You will be sent a Customer Service Agreement along with a Direct Debit Request form, we advise that you file the Customer Service Agreement and request that you return the Direct Debit Request to us. |
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Does the Institute have its own accounting software package?
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No, but please contact us to discuss the different packages that are available and for contact details of Institute members who are software resellers and trainers. |
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Will I benefit from becoming a member of the Institute?
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Yes! The free legal and technical advice is worth being a member for all by itself. But in addition to that you get professional letters after your name and professional recognition. You get invited to free seminars in your area where you can network with other members.
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Who is Matthew Addison?
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Matthew Addison, founding partner of Addisons Chartered Accountant, growing since 1993 into a firm of 2 partners, 6 accountants, 4 support staff together with the operational systems team of 3 certified consultants and 6 bookkeepers. Addisons is a firm that has grown on the back of assisting clients implement business systems using computerised accounting systems.
Matthew (one of the Certified Consultants since the 1990�s) has been involved in the development of the MYOB professional partner programs, conducting training and induction courses for CC's and bookkeepers. Matthew prepared resource seminar material for bookkeepers throughout the implementation of GST in Australia, conducting training seminars to over 35,000 bookkeepers.
Matthew has continued to work with the development of bookkeeping in Australia, continuing the training through workshops, seminars, training manuals to over 20,000 over the last 5 years. This work with bookkeepers resulting in Matthews involvement with the ICB.
Matthew is able to adequately and effectively represent the bookkeeper community due to his continuing involvement in employing and subcontracting bookkeepers, in providing consulting work to businesses, utilising the services of other bookkeepers as well as the ongoing training and workshopping with bookkeepers.
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Who are we? |
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The ICB is about bookkeepers helping bookkeepers.
We are an increasing association of Australian Bookkeepers, assisted by the established ICB UK association of 55,000 full
members, looking to assist each other do our job better.
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A Professional Association
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A Member based association
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Not for profit
Our aim is to help bookkeepers be better!
ICB will accredit your competence
We work with bookkeepers by setting standards and professional codes of conduct, we assist bookkeepers be better by providing resources, systems, checklists, guidance notes, links to advanced knowledge, pathways to appropriate education.
Supporting bookkeepers
Regional networks and network meetings, email news, industry information, bookkeeper telephone and email query support.
ICB.ORG.AU
A resource for bookkeepers: links, information, systems, checklists, tools, help
Accountants
Bookkeepers play a role in getting information to accountants. ICB�s aim is to improve that relationship, the communication and the effectiveness of the communication interchange. We provide guidance notes on interactions between accountants and bookkeepers.
Businesses
We help businesses have a more effective accounting and business process. ICB bookkeepers are about doing what they do well and letting you know before they are out of their depth. Our aim is for businesses to do their books effectively and correctly, using bookkeeping expertise and working with the businesses other advisors.
Government / ATO
ICB represents bookkeepers in government and specifically ATO forums to ensure bookkeepers have their view heard. ICB plays a key role in communication of reality to bookkeepers and providing feedback of the �bookkeeper�s reality� to government.
NOT all bookkeepers need a big stick and high level formal education. ICB is about helping all bookkeepers. We will accredit, work with, support, resource and represent the bookkeepers who will be the governments new �BAS Service Provider� and we will accredit, work with, support, resource and respresent every other bookkeeper in doing their bookkeeping in the best, most efficient and most rewarding manner.
ICB is NOT a Training Organisation. We are not competing with training providers. ICB will accredit relevant training organisations who provide courses relevant to bookkeepers. We will direct bookkeepers to the trainers who provide the courses relevant to the education that you require. ICB recognises and will directly accredit approved training courses, together with experience gained where appropriate. We are working with a number of training providers to ensure appropriate courses exist and are accessible.
ICB is about and for bookkeepers!
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Is a bookkeeper required to keep up to date with tax regulation requirements? |
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To safeguard both yourself and your client, keeping up to date with new and relevant tax requirements should be mandatory, it also shows that you have the knowledge and skills to complete a BAS accurately. Membership of a professional bookkeeping association and also maintaining up to date information and knowledge on new developments relating to BAS services and the regular updating of procedures and documents will benefit all concerned.
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Should a bookkeeper provide a client with a letter explaining fees and tasks? |
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For the protection of all parties we strongly recommend that all parties should document and maintain copies of their arrangement as to:
Who the agreement covers, the period it covers, and the details of the all process' being provided by the bookkeeper.
We also strongly recommended that both parties consider appropriate professional indemnity insurance.
(Please contact us if you would like a sample copy of our 'Letter of Engagement' which details how to set out your terms and conditions)
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Do I need Professional Indemnity insurance?
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Apart from being a selling tool when seeking clients, most importantly, you may be liable to pay any fines or penalties (including interest charges) for errors and / or negligence and your client may be liable to pay any fines or penalties (including interest charges) levied on their accountant or yourself for errors or negligence.* We do require all members in public pratice to hold current Professional Indemnity Insurance.
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What is the standard minimum wage requirements for a bookkeeper? |
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Minimum $35,000.00
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Maximum $75,000.00
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Average $50,659.00
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Do I need Professional Indemnity insurance?
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Apart from being a selling tool when seeking clients, most importantly, you may be liable to pay any fines or penalties (including interest charges) for errors and / or negligence and your client may be liable to pay any fines or penalties (including interest charges) levied on their accountant or yourself for errors or negligence.* We do require all members in public pratice to hold current Professional Indemnity Insurance.
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| Q. |
Should I be a Member?
I have given the future of my business a lot of thought and am considering not to continue with Bookkeeping especially with the extra overheads that I will need to incur with the new laws. I am going to be doing more consulting and MYOB work.
I am also needing to consider the continuation of my membership and would be interested in your thoughts.
Thanks for all your assistance and advice.
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Hi
Your comment about concentrating on consulting and MYOB work is great. It is a logical business decision that many people have or will be making. Many years ago various business associates of mine strategically decided to also specifically not do bookkeeping but to concentrate more on the installation and advice, consulting aspects rather than any actual day to day or regular processing. Interestingly some of those same people now have a team of bookkeepers working with them.
The type of work I think you are meaning is at that high end of explaining to a business how to use software to record transactions correctly and how to interpret their business circumstances and interpret the law to best suit them is the area that government is concentrating on and labelling it BAS Service Provider.
I will assume for a moment that you are across the various pieces of information that ICB have published in the past year about BSP�s.
It is the area of consulting, interpreting, expert use and advice about software that will definitely fall into the arena of the governments registered BAS Service Provider. It is this level that government will mandate compulsory education levels, compulsory PI insurance etc.
The Institute of Certified Bookkeepers is all about this level of consultant. We are also about bookkeepers who have chosen not to be at this level but to remain not as a registered BSP.
Our (ICB) role is to work with software consultants, business consultants who are not actually accountants, as such, and assist you to be professional, be able to prove your credibility and expertise. ICB is about keeping you informed about what is required and also what is wise for someone in your business role. ICB is about working with government and others to ensure the environment remains relevant, as practical and logical as possible and as cost effective as possible.
ICB is about helping you in what I understand your role to be.
Please consider the above and it would be very useful for us to understand your thoughts and response.
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