• What should I look for in a professional accounting or professional services firm?

The hallmark of a professional person is the ability to have integrity, act objectively and maintain a professional and independent outlook at all times.

• Does Richard A Bobb profess to have the requisite integrity and professional skills?

All partners are members of the Institute of Chartered Accountants in Australia and are guided by a strong code of professional conduct, set out in the Institute's Members' Handbook.  Additionally, there are quality control standards known as miscellaneous professional statements that govern our conduct as it might apply in the areas of taxation, auditing etc.

• How are professional fees charged?

Professional fees, rendered to a client, are based on a consideration of fairly assessing the value of the work performed, taking into account:

(a)      the skill and knowledge required for the type of work; 

(b)      the level of training and experience of the persons necessarily
          engaged in the work; 

(c)       the degree of responsibility applicable to the work; and 

(d)       the time of all persons engaged on the work.

• Can contingency fee arrangements be entered into with the firm?

Contingency fees will not be part of our arrangements where any independence or objectivity is required.  For example, the preparation of income tax returns or the conduct of audits must be based on a fair reflection of the time spent and the value of work provided.

• How does the firm manage conflicts of interest?

Conflicts of interest should be avoid at all times.  When acting for client we assess whether there is likely to be an actual or perceived conflict between the respective interests of two (2) or more clients of the firm.  Where such conflict might arise we will disclose that conflict and, if appropriate, will cease to act either for both or each party. We will also ensure that a detailed explanation of why we must cease to act is made to the client(s).

• In addition to professional fees are there any other costs that might be incurred in engaging Richard A Bobb?

Usually we will seek to be indemnified in respect of any direct out-of-pocket expenses that we will incur on behalf of a client.  Examples include (but are not limited to) photocopying, postage & stationery, fax charges, courier charges, search fees, filing fees.  In addition any goods and services tax imposed upon us for the provision of a service is also usually recoverable when a tax invoice is issued (unless the service constitutes a GST free supply).  An example includes a service provided to a non-resident not otherwise present in Australia when the services are provided.

• Can Richard A Bobb refer clients to other professionals?

If required, we will usually provide a referral to several professionals (e.g. lawyers) and leave it to the client to make the ultimate decision from the referrals made.