Username:
Password:
Forgot Password?

Certificate of Public Practice

Print this Article Print this Article
Email this Article

DO YOU NEED A CPP?  
 
Click here. By answering yes or no to 9 questions, you’ll have a conclusive answer. 

 
The Institute introduced changes to certificates of public practice (CPPs), effective from Tuesday, 1 July 2008. 
 
These changes meant a reduction in administrative red tape for members. However, for some members, there were some new obligations as well. 
 
How does this affect you? 
The quick, easy way to find out if you need a CPP is to use the new interactive guide. You should complete this, print out the result and then send this to the Institute. 
 
What were the changes?
  • Some members require a CPP, when they did not previously. Similarly, some members who previously required a CPP, no longer do so
    •  
  • The Quality Review Program continues to focus on members' holding a CPP, but now places reliance on members' licensing obligations and the quality control procedures they have in place under the financial services legislation
    •  
  • Members are asked to notify the Institute if they are one of the following:
    • An Australian Financial Services Licence representative
      •  
    • An Australian Financial Service Licence authorised representative
      •  
    • A holder of a statutory registration who does not offer the services that are detailed in the registration
    After this initial notification, we will simply ask this question in the annual membership subscription form.  
  • Many members will pay less for their CPP. The thresholds for the concessional nil rate is $7500, and the one-third rate is for members earning less than $27,000 ($54,000 for retired members) - Note: If you hold a concessional CPP you can also get access to a concessional PI policy - see Marsh PI Brokers contact details.
    •  
  • If you hold a CPA Australia practising certificate, you may qualify for an exemption from the Institute CPP
    •  
  • The Institute regulations now include commentary, so that you can easily identify whether you require a CPP.
Why does the Institute require members to hold a CPP? 
Members work within a co-regulatory environment, and as such, the Institute is required to ensure the highest standards are being met. This helps the Chartered Accountants brand and reinforces the integrity of members in the business community. Members holding a CPP may also benefit from a cap on their liability (see charteredaccountants.com.au/capping for details) 
 
Do you need a CPP? 
Find out by using this interactive guide 
 
Useful linksFor further assistance, please e-mail your enquiry to service@charteredaccountants.com.au 
 
Other links 
 
 
Last updated: Thursday, 28 February 2008