Here’s why the new standards matter for your business, and how working with a compliant, proactive bookkeeping team helps you stay audit-ready and financially protected.
Why It Matters to Business Owners
The new QMS standards require bookkeepers to take a risk-based approach to managing the accuracy and quality of the services they provide. This includes how your financial data is handled, reported, and lodged with the ATO.
If your bookkeeper doesn’t meet these requirements, it can result in:
- Missed or late lodgments
- Inaccurate financial reports
- Poor documentation during ATO reviews or audits
- Increased risk of penalties or non-compliance
Your business depends on clean, timely, and compliant financial data. The new QMS framework helps ensure your numbers are accurate, up to date, and audit-ready all year round.
What’s Changing in FY2025–26
Under the new framework (aligned with ASQM 1 and revised APES 320), all bookkeeping and BAS service providers must:
- Identify and manage risks when handling your financial data
- Document their quality controls
- Train their staff on compliance and quality procedures
- Regularly review and update their systems
- Maintain records demonstrating ongoing compliance
This applies whether you’re working with a solo bookkeeper or a larger firm and are enforced by the TPB.
What You Should Be Asking
As a business owner, now’s the time to check in and ask your provider:
- Are you QMS-compliant or preparing for 1 July 2025?
- What changes are you making to improve how our records are handled?
- How will this protect my business during audits or ATO reviews?
- Can you walk me through your quality control processes?
If your bookkeeper or BAS agent can’t answer these questions clearly, it may be time to re-evaluate.
How We’ve Prepared —So You Don’t Have to Worry
At Supervision Group, we’ve been preparing for these changes well ahead of schedule. Our QMS is fully aligned with the new standards and focused on:
- Minimising risk across all lodgments
- Keeping your records audit-ready and well documented
- Giving you peace of mind with proactive, transparent processes
- Ensuring your financial data is handled professionally and securely
Final Thoughts
The new QMS standards raise the bar across the industry—but the real benefit is to you, the business owner. With a properly managed bookkeeping system, you’re not just staying compliant—you’re gaining better visibility, reducing your risks, and setting your business up for long-term stability.
Want to make sure your books are in safe hands?
Contact Supervision Group today to review your bookkeeping setup and stay ahead of the new QMS requirements.
