What is the Institute of Public Accountants?
One of the three main professional accounting organisations in Australia, the Institute of Public Accountants specialises in small business accounting. The worlds largest small to medium sized enterprise (SME) professional accountancy group, IPA members support the vital economic role that SME business provide.
The association strives ‘to improve the quality of life of small business’, endeavoring to help its members to support the productivity, improvement, and success of small business clients.
Starting out in 1923 in Melbourne the IPA was initially called the Institute of Factory and Cost Accountants the organisation went through 6 name changes before settling on the current identity.
The group make representations and voice concerns on behalf of SME businesses accounting needs to various Australian Government departments including the Australian Taxation Office, ASIC, Treasury Tax Agents Board, and the Attorney Generals Department.
Over 35,000 accountants throughout Australia and around the world are represented by the IPA group which contributes to the advancement of the accounting profession through participation on numerous committees and councils.
‘The IPA is recognised in Commonwealth and State law in Australia and our members are recognised by the Australian Government as Qualified Accountants and have equal standing under Australian Securities and Investments Commission (ASIC) rulings.’ IPA
What does it mean if my accountant is a member of the IPA?
It means your accountant specialises in small business accounting and is supported in doing so by the nearly century old Institute of Public Accountants. Your IPA accountant must adhere to the IPA rules and standards and carry out specific programs to ensure they are adept at analysing information and providing specialist advice for clients.
