FPA's code earns tax accreditation
The Financial Planning Association's (FPA's) code of professional practice has earned it the status of recognised tax agent association by the Tax Practitioners Board (TPB).
The accreditation shows the TPB has recognised that the FPA has rules in its code and requisite disciplinary procedures and processes that meet the TPB's requirements for recognition as an association. The TPB also recognises that the FPA has appropriate professional and ethical standards for its members, the FPA stated.
The accreditation means the only additional requirements FPA members will now need to fulfil to become recognised tax agents are the relevant fit and proper person test and experience requirements, according to the FPA.
The formal recognition came into place on 21 March. FPA members who are already registered tax agents or registered BAS agents will be able to retain this status as members of the FPA, the association stated.
FPA chief executive Mark Rantall said he believed the FPA had a world-class code which is already used by the Financial Ombudsman Service in its determinations. He said the approval of the code by the TPB was further recognition of this.
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