Accountants Toolkit

The toolkit was first issued in May 2023. The Toolkit was updated to reflect revisions in the 2025 Banking Code of Practice (the Code) issued in July 2024 and which commences 28 February 2025. The Code sets out standards of practice and service by banks that have subscribed to the Code in relation to individual and small business customers, and their guarantors.

The Professional Bodies welcome this update to the Code, in particular clause 78 which now states “We will not ask a third party (such as your accountant) to certify that you can repay the Loan”.

This is a position we have advocated for with banks and other lenders for many years.

As the Code does not cover all lenders, clients or types of confirmations, we expect members will continue to receive requests for Accountant’s Letters. If you do receive a request, we strongly recommend you apply the guidance and use the templates in this toolkit to respond appropriately

Your clients may be requested to provide a letter of assurance from banking and other financial institutions to satisfy lending conditions. Ultimately this shifts some risk onto you, minimising the financial risk for lenders.

Australia's three professional accounting bodies are providing members with guidance and resources to guide you and your clients about the risks involved when providing letters of assurance about an individual's ability to satisfy lending conditions.

Check out the resources available to you below.