Apr 2021

Are you ready to disclose your Australian accounting outsourcing: 1 July 2021 APES305

By: Odyssey Legislation
Tags: accounting outsourced services, actuarial certificate, apes 305, Cloud computing, Disclosure

In December 2020 a revised APES 305 was released with a mandatory requirement, effective 1 July 2021, to disclose material outsourcing. In section 3.6 Where a Member in Public Practice will utilise Outsourced Services in the provision of Professional Services to a Client, the Member shall document and communicate the details of the Outsourced Service Provider, the geographical location of …


Mar 2021

Australian tax compliance Client confidentiality and the TPB’s take

By: Odyssey General
Tags: Cloud computing, confidentiality, data loss, TPB

In 17 November 2020 the TPB released some Question and Answer comments on Cloud computing and confidentiality as a result of questions received during the webinar. There are a couple of very interesting answers that will surprise most accountants. It’s worth also referring to the TPB practice note TPB(PN) 1/2017 on Cloud computing and the Code of Professional Conduct which …


Mar 2021

APES 305 Disclosure Cloud Computing

APES 305 – Australian accountants required to disclose details of cloud computing effective 1 July 2021

By: Odyssey Legislation
Tags: apes 305, Cloud computing, Disclosure, terms of engagement

APES 305 arrived with not too much fanfare in December 2020, and it hasn’t received too much news at present. In December 2020 a revised APES 305 was released with a requirement, effective 1 July 2021, to disclose material outsourcing. A Member in Public Practice shall document and communicate to the Client the Terms of Engagement. Utilising Outsourced Services or …


Nov 2019


How Outsourcing Services Bring Value to Australian Accounting Firms

By: Odyssey Outsourcing
Tags: australian accounting, Australian bookkeeping, Cloud computing, cybersecurity, Outsourcing

In the past few years, the outsourced accounting industry has kept bringing a lot of values to Australian accounting firms. More and more accounting firms have begun to outsource much more complex jobs not only bookkeeping or data entry, but also tax return, SMSFs, etc. What are the major factors that have driven the high demands of outsourced services in …


Feb 2016

Cloud computing and the Code of Professional Conduct. TPB Exposure draft

By: Odyssey Legislation
Tags: Cloud computing, Code of Professional conduct, Privacy Act, TPB

The Tax Practitioners Board (TPB) has released an exposure draft on Cloud Computing. Per the ED, a registered agent must know and understand the nature of any cloud computing arrangements they enter into, particularly in the context of how these arrangements impact upon the tax agent services being delivered to their client. Cloud services include information storage, lodgment of returns, …