For the purposes of providing acquittal for IOSP grant funding under the Schools Assistance (Learning Together – Achievement Through Choice and Opportunity) Act 2004, a qualified accountant is defined as a person who:
(a) is registered, or is taken to be registered, as a company auditor under Part 9.2 of the Corporations Act 2001; or
(b) is a member of CPA Australia or the Institute of Chartered Accountants in Australia
(c) is approved by the Minister as a qualified accountant for the purposes of the Act
No. If a non-qualified (for the purposes of IOSP) accountant submits the acquittal to DEEWR on behalf of a school community for their IOSP grant funding this will be considered invalid. The school community will be requested to arrange for a qualified accountant to re-submit the acquittal.
The Minister for Education, has the authority to approve individuals as being qualified accountants under the Act. Presently this is limited to persons who are members of the National Institute of Accountants. Such approvals are done on a case by case basis.
You should contact the DEEWR Helpline on 1300 363 079 for further advice.
In 2007 DEEWR has provided a website for GSCO acquittals. From the main page select the link called IOSP Financial Acquittals. This displays the acquittal web pages where you enter the required information.
Qualified accountants will be required to provide specific details about themselves in order to sign-in to the IOSP Financial Acquittals web pages. This will include your name, contact details, the Australian Business Number (ABN) of your firm and details of your accounting qualifications.
If the accountant is qualified but doesn't work for an accounting firm or have their own ABN they should use the school or P&C ABN instead.
The GSCO should provide you, as their qualified accountant, with details about their school and the projects to be acquitted such as:
- The DEEWR number and name of the school
- Reference numbers and descriptions of the projects
- The IOSP grant amounts received from DEEWR for each project
- Grant amounts paid to suppliers for each project
- Grant amounts committed to be spent for each project (if applicable)
- Grant amounts left unspent from each project (if applicable)
If you need additional information you should contact the GSCO.
Print a copy of the final screen using the print options in your internet browser. The IOSP Financial Acquittals system also sends an email with details of the acquittal to the email address you provided when you signed in. A copy of the email will be sent to the GSCO as confirmation that you have completed their acquittal.
Not normally. DEEWR will usually deal with the GSCO in the first instance if there is a need to seek clarification of an aspect of the acquittal. However there may be some situations where contact will be made with you, for example if we need to confirm your qualifications or ABN details.