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With the introduction of the Client Agent Linking (CAL) process on the 13th of November, Peter Thorp, the Director of the Australian Bookkeepers Network (ABN), sheds light on the potential consequences.
"Change is inevitable in our industry, and the Client Agent Linking process is a significant shift,” said Peter. “While it will present challenges, like everything can, it also brings an opportunity for enhanced security and accountability.
“It’s essential though we are aware of all the issues the process may bring," continued Peter. “In times of uncertainty, we invite our members to reach out as we’re ready and available to assist.”
What to expect from the CAL.
"With CAL's elevated security standards, we know that the onboarding process has become significantly more difficult,” said Thorp.
There are also by-product issues on top of implementation challenges that we need to be away of. “It will be helpful for bookkeepers to make themselves aware of these and address them with a proactive approach.
“This has industry-wide repercussions which we will look to monitor and report back on.”
Promotion of the Shadow Economy: The Client Agent Linking process has the capacity to inadvertently fuel the shadow economy. When things are a bit tricky, we know that people could just throw up their hands and not do it. Operating off the grid can compromise the integrity of the tax system.
Lodgements and Payments Falling into Arrears: As clients grapple with the CAL process, there is a risk of lodgements and payments falling into arrears. With the complexities of the six stage process, we can expect delays, impacting the timely submission of necessary documents and financial transactions.
Clients Trapped in Bad Agent Relationships: The CAL process, intended to enhance security and accountability, might inadvertently impair the freedom of choice for clients. Those who find themselves in unsatisfactory relationships with their BAS of Tax Agent, may find it a challenge to make a change due to the intricate CAL requirements.
Cybersecurity Risks: Not all of us are technologically savvy, and with our clients who fall into this category, they may become potential targets for cyber criminals. The irony of this is that CAL is designed to protect people’s privacy. The CAL process, coupled with inadequate cyber awareness, heightens the risk of unauthorised access and data breaches; especially those using MyGov ID and OSB connections.
Exclusion of Individuals: The exclusion of individuals, particularly sole traders, from the CAL process could place them in harm's way, elevating them as cybersecurity risks. This group, which are potentially the largest risk demographic, lack the detailed cybersecurity measures found in larger entities and may become the next target for cyber criminals.
Lost? Reach out for more information.
In the face of these unintended consequences, Peter Thorp emphasises the crucial role of asking questions.
For both agents and clients navigating the CAL process, ensuring clarity becomes a powerful tool to achieve a smooth and secure transition.
This overarching message is clear: reach out, ask questions, and seek guidance. It is through this collaborative approach that the industry can collectively address unintended consequences and foster a more resilient and secure client-agent relationship.
“A proactive stance will serve us well," said Peter.
For insights into the Client Agent Linking process, stay up-to-date with ABN resources including the ABN Bookkeeper’s Radio, and other resources available to members only.
