CPA Australia has applied for approval of a new Professional Standards Scheme to operate in all Australian States and Territories.
CPA accountants operating under an approved Professional Standards Scheme have the ability to limit their liability to clients, thereby limiting their professional indemnity insurance exposure.
If you are interested in the proposed scheme, information is available here. The Professional Standards Councils will make a decision in relation to the CPA scheme in the near future. They have called for submissions on the proposed scheme, which must be provided by close of business on 15 May 2019.