Statutory Registrations

Completing selected units within the IPA Program will contribute to the education requirements for various statutory registrations.

Because conditions and requirements are subject to frequent change, members are strongly advised to check their individual circumstances against the requirements of the relevant statutory authority.

Registered Tax Agent

The education requirements for those seeking to register or renew registration as a tax agent generally include the following:

  • a course in Australian taxation law consisting of 2 tertiary level units, (including at least one advanced level unit)
  • a course in commercial law consisting of 3 tertiary level units, (including at least two core units)

The IPA Program structure includes the following electives that are TPB approved courses:

Australian taxation law

  • LSSU592 Taxation Law (introductory unit)
  • LSSU593 Advanced Taxation Law (advanced unit)

Commercial law

  • LSSU591 Law of Commercial Associations (core unit)
  • LSSU451 Legal studies (core unit)
  • LSSU450 Commercial Law I: Principles of Australian Law (core unit)

The Tax Practitioners Board (TPB) takes a 'mix and match approach' to assessing qualifications, as there are numerous potentially satisfactory educational pathways.  Applicants are advised to carefully review their own circumstances against the information on the TPB website, or contact the TPB for advice before committing to particular studies.


Registered Company Auditor

To register as a Registered Company Auditor (RCA), you must satisfy ASIC's educational requirements.  Members are advised to check ASIC's Auditor Registration (Regulatory Guide 180) to match their individual circumstances against ASIC's current requirements.

The IPA Program is an ASIC prescribed course, and AFM564 Issues in Auditing and Professional Practice is a recognised postgraduate auditing subject.

To become a Registered Company Auditor, applicants must satisfy both education and competency requirements.

The education requirements include an Australian degree qualification in Accounting (or an internationally assessed equivalent) and postgraduate study in Audit.  The IPA Program is specifically recognised for this purpose.

Competency can be demonstrated as either:

(a) the provision of satisfactory evidence of 3000 hours of audit under a current RCA
(b) satisfaction of competency requirements as signed off by a current RCA who is a member of either CPA Australia or Chartered Accountants Australia and New Zealand.

An IPA member may satisfy requirements under either legislation.

 

RG146 knowledge and skills requirements

The Master of Commerce (Public Accounting) is listed on the ASIC Training Register as covering RG146 Tier 1 specialist knowledge in Financial Planning, Superannuation, Self Managed Superannuation Funds (SMSFs), Generic Knowledge and Skills.

Members wanting to satisfy RG146 training requirements in order to progress towards becoming qualified to provide financial planning advice in SMSFs can do so by successfully completing the following three IPA Program electives:

  • AFM502 Financial Planning
  • AFM442 Financial Instruments and Markets
  • LSSU592 Taxation Law

Please refer to the ASIC Training Register for further details.