The Professional Standards Councils were in Melbourne recently and congratulated both the Institute of Public Accountants and the Australian Property Institute Valuers on the approval of their third professional standards schemes.
The Australian Property Institute Valuers Limited Professional Standards Scheme commenced in all states and territories on 1 September 2021 and will remain in force for a period of 5 years.
On approving the scheme, the Councils welcomed the inclusion of Certified Practising Valuer (Plant and Machinery) members as scheme participants, extending consumer protection to the clients of this cohort of practitioners.
The Professional Standards Councils also congratulated the Institute of Public Accountants on their new professional standards scheme, which commenced in all states and territories on 1 January 2022. The Institute of Public Accountants Professional Standards Scheme replaces the previous scheme and will remain in force for a period of five years.
On approving the scheme, the Councils welcomed the association’s adoption of Accounting Professional and Ethical Standards Board APES 230. The standard sets out mandatory requirements and guidance for members engaged in the provision of quality and ethical financial planning services.
The approval of a new professional standards scheme is a significant achievement. For more information on professional standards schemes, click here.