The Professional Standards Councils (the ‘Councils’) and the Tax Practitioners Board (Board) have signed a landmark Memorandum of Understanding (MOU).
The MOU will help guide the collaboration, cooperation, and mutual assistance between both organisations with the objective of promoting the integrity of the tax profession.
Recently, the Councils also welcomed the opportunity to contribute to the work of the Board’s Tax Practitioner Governance and Standards Forum. Read more about the Councils’ work with the Forum here.
Chair of the Councils, Mr John Vines OAM, said that the creation of the MOU supported the efforts of the Councils and TPB to work together to ensure services are delivered to consumers by competent and ethical tax professionals.
‘This first MOU with the TPB fulfils the Councils’ strategic commitment to streamline regulatory efforts with peer regulators for better consumer protection outcomes. The MOU reflects a partnership approach to creating opportunities to share insights and to work with professional associations in a flexible and streamlined way that enhances community confidence’, Mr Vines said.