Guides
The things that decide what compliance actually costs you
Not a glossary. These are the questions that change the answer — what a client structure really is, and what a software integration really does. Written to be useful whether or not you ever buy anything from us.
Every factual claim names its source and the date we checked it, so you can tell what has aged.
Structure Why one client is usually five records A single accounting client is commonly a company, a trust, a super fund and two individuals, related to each other. Under Tranche 2 that structure is the work — and it is where the hours go. Read → Software What “integrates with” actually means Two tools can both say they integrate with your practice software and mean completely different things. A five-tier ladder for telling them apart, with real examples and the questions to ask. Read → Definition What is a beneficial owner? A beneficial owner is an individual who owns 25% or more of a client entity, or controls it. The Australian legal meaning, and what Tranche 2 firms must do. Read → Definition What is the AML/CTF Act? Australia's AML law explained The AML/CTF Act 2006 explained: who it covers, its main obligations, how it fits with the Rules and AUSTRAC guidance, penalties, and the 2024 changes. Read → Definition Australian sanctions list: the DFAT Consolidated List Australia's sanctions list is DFAT's Consolidated List. What is on it, who keeps it, what reporting entities must check, and what to do on a match. Read → Definition What is a politically exposed person (PEP)? A PEP holds a prominent public office, or is their family member or close associate. The Australian legal meaning, and what Tranche 2 firms must do. Read →
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