Mark Tomsic

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Mark Tomsic

Grant Thornton

Mark’s career spans over 35 years and has concentrated on providing business advisory and taxation services to a wide range of clients, focusing on businesses as well as their owners. This focus has provided him with an excellent knowledge and understanding of the integral aspects of business performance, the individuals who run them and how their businesses and other assets link to their aspirations.

Mark has also had specific involvement in business acquisitions and disposals including commercial and taxation considerations, indirect taxes and other specific tax and business focused issues within numerous industries.

Session details

Session 6.4 – Client Certificates and Support letters – are they worth the risk?

Accountants and lawyers strive to provide the best support they can to help clients achieve their goals while managing the significant risks associated with professional practice. However, some tasks involve more risks than others and need to be approached carefully. In considering how to approach completion of Sophisticated Investor Certificates and letters of support for finance applications, this session will explore the key dos and don’ts:

Certification: to whom and what standard of evidence is required
Assessing the Control Test in relation to trusts, companies and SMSFs
Measuring Gross Income and Net Assets of various entities
Wealth test versus financial literacy – does it matter?
Risks of finance application support and capacity-to pay letters, and
Professional/TPB obligations.

Speaker: Mark Tomsic, Grant Thornton