The GST - from the inside

Article Abstract:

A goods and services tax (GST) is being introduced by the Australian government and the effects of the new tax system will be wide-ranging for many years in the future. The transition to GST from wholesale sales taxes for businesses making and selling goods will be relatively easy, but more difficult for service industries. Australian accountants will face a daunting task, not only in their own tax liabilities, but in assisting others, as well.

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Bribery crackdown: ramifications for accountants

Article Abstract:

Australian legislation intended to combat the use of bribery on foreign public officials will have implications on the country's accountants and auditors. For example, accountants could be held liable if they participate in hiding instances of bribery transactions. Auditors will have to be sure that their investigative procedures are sufficient to detect bribery occurrences, should they be happening.

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Independence day

Article Abstract:

Issues are presented concerning the split of the accounting profession in the US into audit services and consulting services. The policy of the International Federation of Accountants on the independence of auditors is discussed.

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