How to Create a Flexible Workplace for All Employees 

In today’s workplace, there is often a mix of both younger and older employees, and strategies should be in place to ensure that business owners and managers are creating a flexible and attractive work environment. 

There are certainly challenges creating a flexible working environment for all employees including attracting and retaining younger staff, transferring the knowledge and experience of older staff approaching retirement and meeting the needs of today’s ‘virtual’ employee who expects varying hours and work-life balance. 

Here are some tips for creating a flexible workplace for all:

Manage and understand millennials

Accounting firms and business, in general, should respond to this generation and understand their career motivations. Tips for creating flexibility in the workplace for this group of workers include providing transparency around career pathways and focusing on providing opportunities for growth and development. Millennials bring a great deal to the table in a workplace including a deep understanding of processes, policies, programs and technologies, they are also able to adapt to change which is essential in today’s ever-changing environment. 

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Queensland Law Practice Trust Accounts - The External Examiners Role and Common Breaches

Each year SAAS conducts external examinations of trust accounts operated by Queensland based Law Practices. We thought it would be useful to outline our role, the work conducted and list the most common breaches we reported in the 2017 reporting season.

The information presented is not intended to provide guidance for the operation of a Law Practice Trust Account – we always suggest a good first step for this purpose would be to refer to Queensland Law Society’s Trust Accounting Guide.

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Tightening Of Charity & NFP Reporting Leading to Demand for Quality Auditors and Accountants 

Changes in the NFP and charity sector have tightened up the reporting requirements and standards for the industry, paving the way for more guidance required from accountants and auditors.

With over 54,000 charities registered in Australia, the diverse sector draws on the expertise of accounting and auditing professionals to ensure that reporting & accountability standards are met. While the focus is often on the mission for not-for-profits and charities, there does need to be a focus on ensuring full financial reporting standards are met and exceeded. 

Accountants and auditors are essential in the improvement in reporting throughout the sector with the Australian Charities & Not-for-profits Commission called on accounting professionals to correct over 6800 calculation errors in 2015 which were made by NFP's and charities. 

In 2016 there has been a significant reduction in errors due to improved ACNC requirements and closer reporting measures now in place across the sector. 

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Aussie Investors Losing Out In Online Scams 

A recent article on nestegg.com.au has outlined findings from the ACCC which have shown in the eight months leading up to September 2017, Australian investors have lost more than $19 million to online scams. Out of the $19 million lost to online scams, the lion's share comes from phone scams or social networking scams. 

The ACCC has found the most vulnerable groups are the 'Baby Boomer' generation (55 years to 64 years) losing $4.9 million and individuals between 45 years and 54 years running a close second losing $3.7 million in total over the eight months leading up to September. Investors between 35 and 44 years reported over 175 scams and lost almost $3 million. 

Scamwatch, the Australian government's scam information service is finding an increasing trend for scammers to target older Australians due to their "wealth and limited online experience".

Common scams including romantic advances, unexpected money windfalls, phishing and remote access scams. Some scams have an elaborate professional website, portals, collateral and seemingly glowing testimonials, all of which is an elaborate rouse for scammers to extort funds from unsuspecting victims.

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