As of March 1st 2010 the ATO regulated the bookkeeping industry. Now all bookkeepers providing a BAS service are required to register as a BAS Agent.
The requirements of a BAS Agent are:
- Certificate IV in Financial Services – Bookkeeping or Accounting
- Over 1,000 hours relevant experience
- Professional Indemnity Insurance
- Ongoing Professional Development
What does this mean for you?
In the past, a bookkeeper was able to complete a MYOB or Reckon course and start charging for their services. Unfortunately, due to their lack of experience, they often left a mess. The client could do nothing about it except find someone else who, hopefully, would be able to clean up the mess. It is a costly exercise both financially and emotionally.
As a BAS Agent there is a professional Code of Conduct in relation to:
- Honesty and Integrity
- Independence (acting lawfully)
Breaching the Code of Conduct can result in termination of the registration and Civil Penalties involving fines. At last there is something that can be done if you are left in a mess.
We are a Registered BAS Agent to give you the confidence in the numbers, but the Team at Bookkeeping Freedom believes that great bookkeepers is not just about getting the compliance right but also about empowering you around your finances.