The Institute this week announced that quality reviews will be subject to a fee increase. This applies to reviews that commence after Tuesday, 1 July 2008.  
 
This is the first time the fee has increased since 2003. Bill Palmer, General Manager Standards & Public Affairs, explained: 
 
‘For the past five years the Institute has absorbed rising costs and therefore avoided a fee increase for members. And even with this 2008 fee increase, we’ve managed to keep the fee lower than market rates. 
 
‘However, over the past five years the cost of services has risen. We’ve also seen an increase in administration costs and our regulatory responsibilities.’ 
 
‘So the fee increase will help ensure we continue to attract and retain a strong pool of reviewers, while managing a professional Program.’ 
 
What are the new quality review fees?  
 
Why have a Quality Review Program? 
Chartered Accountants are respected in the business community, and wider community, for their integrity.  
 
The Institute has an obligation to provide evidence of this integrity to business, regulators, government and the wider public. The Quality Review Program is one of the initiatives that helps achieve this. Its primary focus is on compliance, assessing whether members have the quality control policies and procedures in place to meet professional standards and legal requirements. 
 
Quality reviews do not assess the appropriateness of the opinions issued, or the advice provided, by members.  
 
Why quality reviews are good for members

• A review is an independent measure as to whether a practice has the quality control policies and procedures in place to meet professional and legal requirements
• Where possible, reviewers point members in the direction of guidance to help address any areas of concern
• The Program gives the profession a direct influence in the regulatory environment
• The Program reinforces the Chartered Accountants brand.

• The Institute: Quality Review web page