The new year has started once again seen a busy start. The industry is talking about the collapse of Mossgreen, we have been working to release new courses (with more to come in 2018), building our digital profile, organising the 2018 conference and getting plans in place for 2018.
This month we cover:
2018 – 2019 Uniform Standards of Professional Appraisal Practice
- The 2018-19 15-hour national USPAP course creates an understanding of the requirements for ethical behaviour and performance.
- 2018-19 7-hour national USPAP Update is available to those who have completed the 15-hour national USPAP course.
- 2018-19 7-hour national USPAP for non-residential valuers (commercial) is available to those who have completed the 15-hour national USPAP course.
Our online course gives you the flexibility of completing the course in your own time. Let your colleagues know that they too can enrol. Member discounts available, don’t delay – Register now.
Mossgreen collapse highlights importance of Trust Accounts
Unfortunately, issues occur within every industry. The media coverage about the voluntary administration of Mossgreen has highlighted the importance of trust accounts to protect vendors. AVAA distributed a press release which has resulted in a number of enquiries from consumers, media outlets, lawyers and insurance companies.
We will continue to promote the benefits of using an AVAA Accredited Member. Read our Press Release
Notifiable Breach of Data
Did you know that the Notifiable Data Breaches (NDB) scheme commenced on 22 February 2018? Are you ready?
A data breach is when personal information is lost or subject to unauthorised access or disclosure. Examples of a breach are databases being hacked, personal information incorrectly given the wrong customer or unauthorised access to your customer files. The scheme has been put in place to protect individuals personal information. Any breach prior to 22 February 18 are not subject to the changes.
The scheme applies to Australian Government agencies, businesses and not-for-profit organisations with an annual turnover of $3 million or more, credit reporting bodies and TFN recipients. Please review the scheme to see if you are impacted.
Failure to comply with the scheme can result in fines up to $360,000 for individuals or $2.1 million for businesses.
If you believe you have had a breach, you will need to:
- Investigate the potential breach
- Alert OAIC (office of the Australian Information Commissioner) within 30 days
- Notify affected individuals
For more information go to the Officer of the Australian Information Commission website.
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
A Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has been established. The royal commission will review practices within the financial services industry.
Some of the areas of the commission include:
- Conduct of financial services entities, including directors, employees or anyone acting on behalf of the institution reviewing legal and community expectations
- Use of superannuation savings in the best interest of members
- Adequacy of existing laws and policies, internal systems and self-regulation
- Effectiveness to manage misconduct by employees
The commission is calling on the public and business owners to provide submissions about any breaches on a personal or professional basis. Submissions can be in person of via an online form. To read more or register your submission go to the Royal Commission website.
AVAA Conference 2018
Lock in the date for the AVAA Annual conference on 12 July 2018 at the University NSW conference facilities (Sydney CBD campus). The conference will include both speakers and an educational tour. Full details coming soon.
Auctioneers and Valuers Association of Australia
- The peak body for auctioneers and valuers of fine art, antiques, material cultural heritage and collectable items
- The peak body for auctioneers and valuers of plant, equipment, goods and chattels
Don’t forget to update your details on our website avaa.com.au