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CA ANZ’s “just say no” advice on loan letters has struck a chord with Accountants Daily readers who have called on the professional bodies to take a stronger stand on the issue, find a solution, and even ban members who comply.
The comments also highlight the dilemma when clients request a loan letter and accountants face the prospect of complying or losing the business.
Steven McDonnell of McDonnell & Co in Brisbane said such demands were on the rise and “always problematic” while Michael Bachmayer of Bachmayer Accounting in Ipswich, Queensland, said you were damned if you do and damned if you don’t.
Read more at Accountants Daily