TPB and ABA sign MOU


The Tax Practitioners Board (TPB) has signed its first memorandum of understanding (MOU) with a recognised BAS agent association, the Australian Bookkeepers Association (ABA).
The agreement would facilitate better information exchange between the two organisations.
Ian Klug, TPB chair, said other recognised professional associations had expressed interest in similar agreements which were being developed and would be announced in the coming months.
“In developing these agreements, we are highlighting our intention to work collaboratively with tax and BAS practitioner associations to promote the integrity of the tax profession,” Klug said.
“This TPB and ABA MOU will increase our mutual capacity to enhance the integrity of the BAS agent profession, including sharing information and intelligence about BAS agents’ compliance with the tax practitioners Code of Professional Conduct.”
Peter Thorp, ABA director, said the spirit in which the MOU was signed was beneficial for both organisations.
“The MOU will lead to greater co-operation, better communication and more streamlined procedural dealings between the ABA and the TPB,” Thorp said.
“A closer working relationship like the one envisaged in the MOU can only benefit the bookkeeping profession as a whole.”
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.