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Are you prepared for the Bookkeeping revolution?

There have been recent rumblings regarding draft legislation that impacts on the necessity for bookkeepers to be qualified to a minimum standard to ensure continuity across the field and industry and to make it necessary for a bookkeeper charging a fee for BAS services to be registered. The Institute of Certified Bookkeepers (ICB) recently received confirmation that the new law if it is to proceed will not be brought into effect before February 2008 at the earliest. This giving current and new RTO’s the chance to provide the required qualifications on their scope and enable the adequate preparations to occur.

The brief outline on this situation can be found here: http://www.icb.org.au/members_area/latest_news/story135.htm

The proposed legislation changes will require that bookkeepers charging a fee for BAS services will need to be a registered BAS Service Provider with the Australian Tax Office, and in order to be registered the individual in question will need to have completed either FNS40107 Certificate IV in Financial Services (Bookkeeping) or FNS40207 Certificate IV in Financial Services, there are also other requirements, more detailed information can be obtained from the Treasurers site at: http://www.treasury.gov.au/contentitem.asp?NavId=037&ContentID=1218 or from the ICB http://downloads.icbglobal.org/au/BSP_Briefing_Paper.pdf .

Relevant Training Packages can be purchased by clicking here

Given the amount of discussion that is currently being undertaken by relevant parties it is more than likely that the proposed changes to the legislation will occur, meaning that there will be a higher demand on RTO’s to provide both of the above Certificate IV’s, and thus a greater need for teaching materials and support, and it pays to be prepared, especially given the time required in adding courses to your scope. Here at IBSA we are constantly reviewing your training needs and adapting our resources and products on offer to ensure that your needs are satisfied.  

Click here to view our current range of resources for the above mentioned qualifications but ensure that you keep checking back as this list will grow!

If you have any questions regarding the FNS04 and how the new legislation may effect you, submit it by clicking here.