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The Institute of Certified Bookkeepers is about bookkeepers helping bookkeepers helping clients.
Institute of Certified Bookkeepers
If you are an accountant or tax agent, you are probably a member of CPA Australia. Or CA ANZ (Chartered Accountants Australia and New Zealand). Or IPA (Institute of Public Accountants). But you probably also work with BAS agents and from them, you might have heard the term ICB – the Institute of Certified Bookkeepers – especially when talking about the recent COVID grants.
Let’s look at this supposedly new kid on the block and find out more from Matthew Addison, the chair and co-founder of the Institute of Certified Bookkeepers in Australia.
Here is what we learned. But please listen in as Matthew Addison explains all this much better than we ever could.
To listen while you drive, walk or work, just access the episode through a free podcast app on your mobile phone.
Institute of Certified Bookkeepers
The Institute of Certified Bookkeepers in Australia is run by members for members and is a not-for-profit organisation. It is supported by ICB Global, administered from the UK.
Most members are bookkeepers in practice – meaning they run their own practice – rather than bookkeepers in employment. Some members specialise in one accounting software (for example Xero) but most cover at least two software or more (MYOB, Quickbooks, Reckon, Sage, etc).
Game Changers
The introduction of GST changed everything. It was a game-changer. GST really raised the profile of bookkeepers and showed how much bookkeepers and software consultants do for small businesses.
“Somebody is doing the bookkeeping inside every business in Australia.” Matthew Addison
Another big game-changer was COVID. The cash flow boost and JobKeeper and to some extent JobSaver and other grants strengthened the relationship between bookkeepers and their clients even more.
Bookkeeping
Bookkeeping is not a pathway to becoming an accountant, Bookkeeping is a profession of its own.
Bookkeepers tend to be more hands and tech savvy. But the most important thing is a close relationship between the bookkeeper, the business and the accountant doing the tax.
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Disclaimer: Tax Talks does not provide financial or tax advice. All information on Tax Talks is of a general nature only and might no longer be up to date or correct. You should seek professional accredited tax and financial advice when considering whether the information is suitable to your or your client’s circumstances.
Last Updated on 28 September 2021
Tax Talks spoke to Matthew Addison - Executive Director at Institute of Certified Bookkeepers Ltd - for more details.
