Does your accountant prepare your financial statements in Australia, or is your financial information processed offshore?
At Quinn Consultants (our taxation and accounting arm of the business) and Quinn Financial Planning (our financial planning and investment division), all taxation, accounting, and financial planning is done within Australia.
It is becoming more prevalent for accountancy and financial firms to outsource information for processing offshore, primarily to save costs and to have access to a larger pool of accountants and processes.
Our priority is always the security of our client’s private and financial information. By retaining the information in-house, we minimise the possibility of corruption and privacy breaches to your sensitive information. Also, by processing your work in-house, we can minimise the number of people accessing your information. When your work is outsourced, an external person, party, or organisation is responsible for the privacy and supervision of that sensitive information.
Suppose you were to have a security breach of information that is outsourced overseas. In that case, it is extremely difficult to take remedial action for privacy or security breaches against another person, company, or organisation that resides overseas. It is outside of the Australian jurisdiction and outside of ASIC’s control.
Is your accountant outsourcing your work overseas? Rest assured, at Quinn’s, we don’t outsource your information.
Should you require further information in relation to the processing of your taxation or financial information, please feel free to contact Peter Quinn by submitting an enquiry or calling us on +61 2 9580 9166 to book an obligation-free appointment.
The information in this document does not take into account your personal objectives, financial situation, or needs so you should consider its appropriateness having regard to these factors before acting on it. It is important that your personal circumstances are taken into account before making any financial decision and it is recommended that you seek assistance from your financial adviser.