Board Chair, Ian Klug, says in a statement that the MOU will facilitate information exchange about matters of mutual interest including compliance with the Tax Agent Services Act 2009 and the Code of Professional Conduct.
He says it sets out a clear and practical framework for engagement, cooperation and proactive information-sharing between the two organisations.
“This is our first finalised MOU with a recognised professional association, but we expect more to come as we continue to work closely with other associations to develop similar agreements,” he says, noting that the purpose of this agreement and others that will follow, is to make it clear that both organisations are committed to working collaboratively for the betterment of the tax profession.
“It also highlights what information we can legally share about registered tax practitioners who are members of the respective association.”
The MOU allows for the exchange of information on issues including:
- Misconduct by registered tax practitioners
- Intelligence, operational matters and de-identified data trends
- Continuing professional education opportunities.
FPA CEO, Dante De Gori CFP says the FPA is honoured to be the first professional association to enter into an MOU with the Board.
He says it has built a strong and close working relationship with the TPB over the past eight years as tax (financial) advisers have integrated into the Board and has seen the benefits of a regulator whose primary focus is on the relationship between a professional and their client.