Effective from 1 July 2021, Australian firms will be required to include the details of all outsourced services and cloud computing in their Engagement letters.

The revised APES 305 requires practitioners to document and communicate with their potential and existing clients about:

• The details of any outsourcing provider;
• The geographic location of where the outsourced services will be performed; and
• The nature and extent of the outsourced services.

Similar disclosures are required if cloud computing, including on-demand access to networks, servers, data storage, databases, software, and applications, is utilised.

If you need more guidance with the professional and ethical obligations regarding these outsourced services, APES GN 30 Outsourced Services is s helpful resource.

If this sounds like something you would like to know more about, please contact us. We are here to help.