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Industry codes of practice
The Association of Certified Bookkeepers
Inc. (CBK) was formed to represent the
special interests of professional bookkeepers
and to provide accreditation for suitably
qualified bookkeepers.
The CBK is a Not-For-Profit Association
formed to assist bookkeepers in their day to
day work and to form links with accounting
firms and others who may wish to engage
the services of a "Certified Bookkeeper".
Bookkeepers have wanted a
Professional Association to
represent their special
interests and needs with
government regulators. The
CBK was formed to do
exactly this
 The CBK was formed
to do exactly this. We
lobby and liaise with
government
departments and
tertiary institutions
and other
organizations that
may effect members'
interest.
 We are committed to growth
that will benefit our members
and the Bookkeeping
Profession in Australia. Our
goals include advances in
training and education
(including distance
education) for career
advancement and skill
development, to support and
encourage responsible and
accurate bookkeeping
practices in Australia, to raise
awareness of bookkeeping as
a profession in Australia, and
to offer resources that will
assist our members to succeed
in an ever changing
environment.
 The CBK is passionate about the
future of the Bookkeeping
Profession and believes that one of
our most important roles as a
Professional Association is to
encompass the interests of our
members into the everyday
functioning of our organization.
Our role as a Professional Association
is to represent our members at every
relevant opportunity and we are
dedicated to ensuring that we all as
professional bookkeepers receive
appropriate recognition from our
clients, our peers, other professionals,
the general community and perhaps
most importantly by our own
Government Regulators.
 Grow your business
faster
 Improved
Dispatching
 Amplified
Productivity
 Increased Efficiency
 Scheduling &
Dispatching
 Billing, Invoicing &
Quotes
 Work History Tracking
 Accounting
Integration
 Timesheets & Time
Tracking
 Customer Database
(CRM)
A number of codes of practice have been developed in the financial services
sector. An industry association is not required to seek ASIC approval of its
code, but may choose to do so.
ASIC’s role in codes of practice
 ASIC has the power to approve codes in the financial services sector.
We have released Regulatory Guide 183 Approval of financial services
sector codes of conduct (RG 183), which sets out how we will approve
a code of practice.
 An approved code of practice should meet a number of criteria,
including:
 a comprehensive body of rules developed in consultation with
stakeholders
 enforceability against subscribers to the code
 adequate provisions for dispute resolution, remedies and sanctions
 effective and independent administration – including compliance
monitoring.
 To date, no financial services sector codes of practice have been
submitted to ASIC for approval.
ASIC has not approved
codes of practice
developed by the
financial services industry
under RG 183, and we
do not oversee their
administration. However,
they are formal codes
developed by the
financial services industry
and may be useful to
consumers
 Code of Banking
Practice
 Customer Owned
Banking Code of
Practice
 FPA Code of
Professional Practice
 General Insurance
Code of Practice
 Insurance Brokers
code of Practice
 Code of Banking Practice: Developed by
the Australian Bankers’ Association
 Customer Owned Banking Code of
Practice :Developed by the Customer
Owned Banking Association
 FPA Code of Professional Practice:
Developed by the Financial Planning
Association of Australia
 General Insurance Code of Practice:
Developed by the insurance industry
 Insurance Brokers Code of Practice:
Developed by the National Insurance
Brokers Association of Australia
Industry codes of practice
 REPUTATION: It is the
responsibility of Members
and Representatives,
regardless of experience or
position, to ensure that his,
her or its actions reflect
positively upon the industry.
Neither Members nor
Representatives shall
undertake any action that
will bring the reputation of
the Australian OTC markets
into question or disrepute
 RESPECT FOR RULES:
Members and
Representatives shall
act in accordance with
all applicable laws,
regulations and industry
standards. No Member
or Representative shall
undertake, or assist
another to undertake,
any action which
violates applicable laws,
regulations or industry
standards
 RESPECT FOR PERSONS:
Members and
Representatives shall
ensure that their dealings
with others exemplify
and actively foster an
environment of mutual
trust and respect.
Members and
Representatives shall not
behave in a manner that
is prejudiced,
discriminatory or
harassing.
 CONFIDENTIALITY:
Members and
Representatives shall
protect all information
that is sensitive,
confidential or private
from misuse. A Member
or Representative shall
only use or disclose such
information for the
purposes for which it was
collected or a
permissible secondary
use, unless disclosure is
otherwise required by
law.
 HONESTY: Subject to
the previous principle,
Members and
Representatives shall
be open and truthful,
both within an
organization and to
clients, counterparties
and stakeholders,
even when that may
be difficult or possibly
result in loss of
business.
 FAIRNESS: Members
and Representatives
shall conduct business
in a manner that is
objective and
impartial. Fairness
requires managing
one’s own prejudices
and interests to ensure
that biases or conflicts
do not compromise
professional conduct
The Code of Conduct is
regulates the personal and
professional conduct of all
registered tax agents, BAS
agents and tax (financial)
advisers.
Honesty and integrity
 You must act honestly
and with integrity.
 You must comply with
the taxation laws in the
conduct of your
personal affairs.
 If: you receive money or
other property from or
on behalf of a client,
and you hold the money
or other property on trust
 you must account to
your client for the money
or other property.
Independence
 You must act lawfully in
the best interests of your
client.
 You must have in place
adequate
arrangements for the
management of
conflicts of interest that
may arise in relation to
the activities that you
undertake in the
capacity of a registered
tax agent, BAS agent or
tax (financial) adviser .

Confidentiality
Unless you have a
legal duty to do so,
you must not disclose
any information
relating to a client’s
affairs to a third party
without your client’s
permission.
Competence
 You must ensure that a tax agent
service that you provide, or that is
provided on your behalf, is
provided competently.
 You must maintain knowledge
and skills relevant to the tax agent
services that you provide.
 You must take reasonable care in
ascertaining a client’s state of
affairs, to the extent that
ascertaining the state of those
affairs is relevant to a statement
you are making or a thing you are
doing on behalf of a client.
 You must take reasonable care to
ensure that taxation laws are
applied correctly to the
circumstances in relation to which
you are providing advice to a
client.
INDUSTRY
STANDARDS
Industry codes of practice

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Industry codes of practice

  • 2. The Association of Certified Bookkeepers Inc. (CBK) was formed to represent the special interests of professional bookkeepers and to provide accreditation for suitably qualified bookkeepers. The CBK is a Not-For-Profit Association formed to assist bookkeepers in their day to day work and to form links with accounting firms and others who may wish to engage the services of a "Certified Bookkeeper".
  • 3. Bookkeepers have wanted a Professional Association to represent their special interests and needs with government regulators. The CBK was formed to do exactly this
  • 4.  The CBK was formed to do exactly this. We lobby and liaise with government departments and tertiary institutions and other organizations that may effect members' interest.  We are committed to growth that will benefit our members and the Bookkeeping Profession in Australia. Our goals include advances in training and education (including distance education) for career advancement and skill development, to support and encourage responsible and accurate bookkeeping practices in Australia, to raise awareness of bookkeeping as a profession in Australia, and to offer resources that will assist our members to succeed in an ever changing environment.
  • 5.  The CBK is passionate about the future of the Bookkeeping Profession and believes that one of our most important roles as a Professional Association is to encompass the interests of our members into the everyday functioning of our organization.
  • 6. Our role as a Professional Association is to represent our members at every relevant opportunity and we are dedicated to ensuring that we all as professional bookkeepers receive appropriate recognition from our clients, our peers, other professionals, the general community and perhaps most importantly by our own Government Regulators.
  • 7.  Grow your business faster  Improved Dispatching  Amplified Productivity  Increased Efficiency  Scheduling & Dispatching  Billing, Invoicing & Quotes  Work History Tracking  Accounting Integration  Timesheets & Time Tracking  Customer Database (CRM)
  • 8. A number of codes of practice have been developed in the financial services sector. An industry association is not required to seek ASIC approval of its code, but may choose to do so. ASIC’s role in codes of practice  ASIC has the power to approve codes in the financial services sector. We have released Regulatory Guide 183 Approval of financial services sector codes of conduct (RG 183), which sets out how we will approve a code of practice.  An approved code of practice should meet a number of criteria, including:  a comprehensive body of rules developed in consultation with stakeholders  enforceability against subscribers to the code  adequate provisions for dispute resolution, remedies and sanctions  effective and independent administration – including compliance monitoring.  To date, no financial services sector codes of practice have been submitted to ASIC for approval.
  • 9. ASIC has not approved codes of practice developed by the financial services industry under RG 183, and we do not oversee their administration. However, they are formal codes developed by the financial services industry and may be useful to consumers  Code of Banking Practice  Customer Owned Banking Code of Practice  FPA Code of Professional Practice  General Insurance Code of Practice  Insurance Brokers code of Practice
  • 10.  Code of Banking Practice: Developed by the Australian Bankers’ Association  Customer Owned Banking Code of Practice :Developed by the Customer Owned Banking Association  FPA Code of Professional Practice: Developed by the Financial Planning Association of Australia  General Insurance Code of Practice: Developed by the insurance industry  Insurance Brokers Code of Practice: Developed by the National Insurance Brokers Association of Australia
  • 12.  REPUTATION: It is the responsibility of Members and Representatives, regardless of experience or position, to ensure that his, her or its actions reflect positively upon the industry. Neither Members nor Representatives shall undertake any action that will bring the reputation of the Australian OTC markets into question or disrepute  RESPECT FOR RULES: Members and Representatives shall act in accordance with all applicable laws, regulations and industry standards. No Member or Representative shall undertake, or assist another to undertake, any action which violates applicable laws, regulations or industry standards
  • 13.  RESPECT FOR PERSONS: Members and Representatives shall ensure that their dealings with others exemplify and actively foster an environment of mutual trust and respect. Members and Representatives shall not behave in a manner that is prejudiced, discriminatory or harassing.  CONFIDENTIALITY: Members and Representatives shall protect all information that is sensitive, confidential or private from misuse. A Member or Representative shall only use or disclose such information for the purposes for which it was collected or a permissible secondary use, unless disclosure is otherwise required by law.
  • 14.  HONESTY: Subject to the previous principle, Members and Representatives shall be open and truthful, both within an organization and to clients, counterparties and stakeholders, even when that may be difficult or possibly result in loss of business.  FAIRNESS: Members and Representatives shall conduct business in a manner that is objective and impartial. Fairness requires managing one’s own prejudices and interests to ensure that biases or conflicts do not compromise professional conduct
  • 15. The Code of Conduct is regulates the personal and professional conduct of all registered tax agents, BAS agents and tax (financial) advisers.
  • 16. Honesty and integrity  You must act honestly and with integrity.  You must comply with the taxation laws in the conduct of your personal affairs.  If: you receive money or other property from or on behalf of a client, and you hold the money or other property on trust  you must account to your client for the money or other property. Independence  You must act lawfully in the best interests of your client.  You must have in place adequate arrangements for the management of conflicts of interest that may arise in relation to the activities that you undertake in the capacity of a registered tax agent, BAS agent or tax (financial) adviser . 
  • 17. Confidentiality Unless you have a legal duty to do so, you must not disclose any information relating to a client’s affairs to a third party without your client’s permission. Competence  You must ensure that a tax agent service that you provide, or that is provided on your behalf, is provided competently.  You must maintain knowledge and skills relevant to the tax agent services that you provide.  You must take reasonable care in ascertaining a client’s state of affairs, to the extent that ascertaining the state of those affairs is relevant to a statement you are making or a thing you are doing on behalf of a client.  You must take reasonable care to ensure that taxation laws are applied correctly to the circumstances in relation to which you are providing advice to a client.