33. How Accountants can spot money laundering

Accountants Chat Australia

Welcome to edition 33 of the Accountants Chat Australia newsletter!

There has been a lot of growth in the Accountants Chat Australia group/newsletter in the last couple of weeks so welcome to all our new members!

Here are some of the hot topics in Australian accounting:

• How to spot money laundering: 3 red flags. Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime is tightening, and accountants should be alert to red flags. Here, we discuss common indicators of potential problems, and what to do when you see suspicious activity. Read more.

• Labor cracks down after PwC scandal. Consulting firms caught promoting tax exploitation schemes will be fined up to $780 million, a 100-fold increase, under the Albanese government’s sweeping response to the PwC tax leaks scandal. Read more. 

• Has data become the new 'trans fat'? It’s been said that “data is the new oil”, representing an untapped, immensely valuable asset. This captures the idea that the 21st-century data explosion would power modern organisations like a new fuel source, driving innovation and growth. Perhaps it could even create new revenue streams. Read more.

• Why advisory services will fail without a sales strategy. Firms that grow consulting revenue know the seven secrets to perpetual success. Read more.

From Accountants Chat Australia group

Accountants Chat Australia is a professional community for Accountants, Bookkeepers, Tax Agents and Advisors. Join the conversation with 3,000+ other members.

Here are some recent discussions:

• Sole trader WFH GST claim. Read more.

• What do you export from Xero? Read more.

Start a conversation or ask a question here.

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Thanks for reading.