6. Systemic Failure of the Accounting Bodies | Tinder for Tax | Fast Collapse

From The Trenches

Best on Ground

Paul

Tech wont change your life much in the next ten years - here’s why https://twitter.com/sweatystartup/status/1505125330817802244

Fast Collapse:

https://www.axios.com/fast-checkout-startup-collapse-029d1601-6d4f-43a4-b816-bd4b15771bbe.html

AccountexAU launch

What it needs to prove: That it can make a fair profit for it’s substantial risk with the available quality content providers https://twitter.com/AccountexAus/status/1511555738430500864

Farewell Craig Walker https://twitter.com/storminwalker/status/1509699836463005698

David

A new Practice Manager Consideration

I recently got asked if the practice management solutions actually solve a problem (so many firms just use excel) - CAA use Karbon. Paul uses excel and XPM and we hear about FYI docs all the time but PWC has chosen….Monday https://www.linkedin.com/posts/mondaydotcom_global-alliance-with-kpmg-ugcPost-6902266804081958912-8qPt/

Tinder for tax

Gofar making FBT simple and is calling itself Tinder for Tax

https://www.gofar.co/

How GoProposal gets it’s staff to work in the office https://www.linkedin.com/feed/update/urn:li:activity:6917789747926949888/?commentUrn=urn%3Ali%3Acomment%3A(ugcPost%3A6917789738972110848%2C6917964958639030272)

Even Jerry Seinfleid knows big firms aren’t better https://twitter.com/buccocapital/status/1510249981789282304

Worst on Ground

Dave

Frustrated how we seem to keep printing money? Monopoly has your answer https://twitter.com/biancoresearch/status/1510254967113748485

The war in Ukraine - and the impact on accountants with clients doing business in Russia https://www.linkedin.com/posts/daniel-rosenblatt-trade-law_sanctions-russia-belarus-activity-6905150591698644994-Vdha/

Accounting Bodies are Failing.

Accounting Bodies gloss over their systemic failures around talent and there aren’t enough accountants to lodge returns.

1. They are the accountant makes
2. There aren’t enough accountants
3. We lose the battle for talent on campus
4. We focus on mental health after the damage is done and do nothing to stop the system that creates the mental health issues s100a retrospective changes is the best example
5. Who will lodge the tax returns in 10 years? CPA seems to focus on their total members not their tax lodgers.

https://www.accountantsdaily.com.au/business/16806-accountants-turning-from-technicians-to-problem-solvers/amp

Small Practitioners don't have a voice - s100a proved it - No seat at the table yet again

ATO says industry asked for s100a guidance? But who asked? Who is actually your voice here? Check out who sits on the ATO’s consultation group. Did they represent you? https://www.ato.gov.au/general/consultation/consultation-groups/stewardship-groups/private-groups-stewardship-group/

The current advocacy system is designed to get you to comply, not to represent you.

Independence? IPA CEO appointed to TPB Board making a judge, jury and executioner

https://www.tpb.gov.au/news-media/media-releases/tax-practitioners-board-welcomes-two-new-members

1. The TPB accredits the IPA - From their website
1. Professional associations may be accredited by us as a recognised tax agent or BAS agent association if they meet certain requirements in the Tax Agent Services Regulations 2022 (TASR).
2. The IPA Accredits Accountants - From their website

The IPA is a professional accounting body which sets professional and ethical requirements for its members, which they are required to uphold.

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