Tax Agent Services (Code of Professional Conduct) Determination 2024 introduces 8 additional obligations relating to: 

Honesty and integrity

• Upholding and promoting the ethical standards of the tax profession
• False or misleading statements

Independence

• Conflicts of interest in dealings with the government

Confidentiality

• Maintaining confidentiality in dealings with the government

Competence

• Keeping of proper client records
• Ensuring tax agent services provided on your behalf are provided competently

Other responsibilities

• Quality management systems
• Keeping your clients informed of all relevant matters.

The key things expected in this standard include…

• establishing and maintaining a quality management system
• upholding and promoting the ethical standards of the tax profession
• keeping proper client records for at least 5 years after the service has been provided
• informing current and prospective clients of all relevant matters that may influence their decision to engage with you
• not providing false and misleading statements to the TPB or government
• ensuring tax agent services provided on their behalf are provided competently
• maintaining confidentiality in dealing with the government
• identifying, documenting and disclosing conflicts of interest in dealings with the government

Quality Assurance for Accountants is Australia's only specialised consulting firm that helps accountants meet their quality obligations. 

Our quality manuals are already compliant with the current standards and are successful in quality reviews from CPA, CAANZ and IPA.

• We conduct a thorough interview and assessment of your accounting practice so that we can provide you with tailored complying manuals
• We provide advice and tips on how to improve the quality of your accounting practice
• We can help you prepare for quality reviews from any of the three professional accounting bodies 
• We are continuously improving our services and manuals to comply with new standards

Craig Allen is a former quality assurance reviewer for CPA Australia and has helped more than 500 practices in Australia as a quality assurance consultant or quality assurance reviewer. Craig has a unique perspective, having also been in public practice for more than 30 years. Talk to Craig to find out how he can help your accounting practice get ready for a quality review and attain best-practice standards.