Institute of Certified Bookkeepers

In light of the new task force focussing on tax avoidance, superannuation, and underpaying employees, what is the best way our members can protect themselves from being liable for their client’s/employer’s actions?

ICB recommends our members keep records of all interactions/instructions received from the company, and:

  1. Be professional
  2. Have processes fully documented and in place
  3. Have checklists readily available – date, time, notes, show calcuations
  4. Stay connected to competent reliable updates and information – check the ICB website for news, ATO website for fact sheets
  5. Have an engagement letter that clearly outlines what you are responsible for – review this at least annually
  6. Communicate regularly with your client – keep copies of correspondence
  7. Ask questions – don’t be afraid of querying any instructions for clarity
  8. Document your questions, their answers, your advice
  9. Don’t be part of underpayments – refuse to process these, and document your refusal
  10. If the business has been told before, especially by a regulator, and has not fixed it – disengage!
  • 2nd September 2019