PEAK ACCOUNTING BODY WELCOMES ALP PROPOSAL TO ADDRESS FINANCIAL ABUSE

Chartered Accountants ANZ

Chartered Accountants ANZ (CA ANZ) has been educating its members on how to identify signs of financial abuse and welcomes a proposed plan by the ALP to further crack down on perpetrators.

“This is an important issue. The community rightly expects that government systems, such as tax, corporate systems and social security, should be free of manipulation by perpetrators,” said Karen McWilliams, CA ANZ Sustainability and Business Reform Leader.

“A proposal to close loopholes in relation to debts incurred through no fault of the victim-survivor and preventing access to a victim’s superannuation payout by their perpetrator, would be important steps forward to ending such exploitation.

“We know the devastating impact of financial abuse through the tax and corporate systems. We have members who work at dedicated clinics that support victim-survivors to navigate a path ahead.

“We recognise that accountants are uniquely poised to recognise people experiencing intimate partner financial abuse and we look forward to further details on how this plan will be enacted in practice, if Labor wins the upcoming election.”

CA ANZ resources and guidance to assist our members:

• PODCAST: Financial abuse in the tax system and how to recognise the signs
• ARTICLE: Financial abuse in the tax system – recognise the signs
• WEBINAR: Recognising the signs of client financial abuse
• SUBMISSION: Financial Services Regulatory Framework in Relational to Financial Abuse

ENDS

About Chartered Accountants Australia and New Zealand

Chartered Accountants Australia and New Zealand represents nearly 140,000 financial professionals, supporting them to make a difference to the businesses, organisations and communities in which they work and live. Chartered Accountants are known as Difference Makers. The depth and breadth of their expertise helps them to see the big picture and chart the best course of action.

www.charteredaccountantsanz.com

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