BAS Agents

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 minimum requirements are

  • Certificate IV in Financial Services – Bookkeeping or Accounting unless working under a Qualified BAS Agent
  • Member of a recognised Professional Association
  • Over 1000 hours relevant experience
  • Professional Indemnity Insurance
  • Ongoing professional development

What does that mean for you?

In the past, a bookkeeper was able to complete an accounting software course and start charging for their services. Unfortunately due to their lack of experience, the 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)
  • Confidentiality
  • Competence

Breaching the code of conduct can result in termination of the registration and civil penalties involving fines up to $137,500.00. At last there is something that can be done if you are left in a mess.

Our practice is registered as a BAS Agent in its own right, we also have individually registered BAS Agents providing Supervision to the team