February 26, 2010Bookkeepers will have to bring their skills into line with a national standard as of next week in a move by the government to prevent sub-par Business Activity Statement advice from being dispensed.
A new law commencing March 1 will require bookkeepers who wish to lodge BAS on behalf of their customers to have a Certificate IV in Financial Services (Bookkeeping) and some 1,400 hours of BAS work experience in the last three years.
According to Rainer Griebel, manager of
Aussie Accounts Training, the BAS Agent Laws will mean many bookkeepers will want to revise their skill set in the near future.
“Certainly, the Australian Taxation Office and bookkeeping bodies have tried to make sure that the public are aware of what’s going on, however, there are plenty of operators out there who won’t be compliant after the cut-off date,” Griebel says.
“Some bookkeepers who aren’t compliant may just stop doing BAS after Monday, as acquiring the training and hours of experience will require more effort than they’re willing to put in,” he says.
“Some will continue, and will hopefully register to use the two year grace period set out by the government to bring their qualifications up to standard.”
Non-compliant bookkeepers will have two options after the cut-off date.
They can compile a BAS for a client, who will then have to take it to a registered accountant to have it validated before going to the ATO, or alternatively the statement will have to be taken to a compliant bookkeeper before going to the tax office.
One way or another, the BAS will have to pass through qualified hands before going to the ATO, according to Griebel.
“Whether a non-compliant operator sends the statement to a registered bookkeeper or accountant, somewhere along the line a qualified accountant or bookkeeper will have to see it,” he says.
“A lot of businesses may have to revise their choice of bookkeeper in the coming weeks, as some bookkeepers will simply drop off the radar.”
A positive moveJohn Birse, director of the
Institute of Certified Bookkeepers (ICB), says he believes the new laws will bring benefits right across the board.
“The new requirements will certainly translate into an improved standard of bookkeeping for clients,” Birse says.
“There might be a bit of a shakeup, but I think overall it’s going to create a more streamlined industry where businesses have peace of mind that their bookkeepers are qualified to do the job that they’re doing,” he says.
“At ICB we strongly encourage businesses that are looking for bookkeepers to check for three things – qualification, experience, and membership of a professional body.”
