Directors ID

Just received an email from Australian Business Registry Services about the Directors ID. It ends with a statement that not having one is a criminal offense. When GST was introduced public accountants ensured that all their clients were registered and had obtained an ABN. Clients will be expecting their accountant to help get them and […]

The Evil of Inflation

Accountants in public practice now need to shift the focus toward clients. How can clients live with inflation? Most practicing accountants were not around in the 1980s so have little experience with high inflation. Businesses need to monitor their costs and then adjust their prices accordingly. Let competitors have reduced profits and even go broke. […]

Old and even deceased Prime Ministers still causing problems for Accountants

Are you serious? Yes, but you were probably born after these dates. In 1979 John Howard when he was Federal Treasurer was reclaiming the tax mess made by the Chief Justice of the High Court, Sir Garfield Barwick. Barwick took a literal interpretation of the tax law and thus allowed all sorts of tax schemes […]

What is social engineering?

Social engineering is one of the most significant security threats facing businesses today, and unfortunately it’s becoming more common and sophisticated. This means businesses need to be savvy in how they identify social engineering and embed organisation-wide processes to prevent it. Basically, social engineering is like a modern-day con artist. Cybercriminals use deception to manipulate […]