Welcome PwC - After a thorough evaluation of the options, PwC has selected Connectworks to be the company secretarial product they'll use nationally.
It's great to have another Big 4 firm on board as a user.
By early next week, we'll have completed adding all the fields to record CDD information against companies and trusts and the people involved in them and sole-traders or other individuals as clients.
This includes the ability to record proof of identity and proof of address against individuals.
New checkboxes will be in place to allow you to more quickly and accurately specify 'The nature and purpose of your business relationship with a client'. These checkboxes correspond directly to the business activities that are captured by AML/CFT, as given under the definition for "designated non-financial business or profession" in Section 5 of the AML/CFT Act.
We believe recording the activities you undertake for clients this way will improve the accuracy as well as making it easier.
If you select the checkbox indicating that you're not performing any captured activities for the client, the entity will be classified as 'CDD not required' on your firms AML/CFT reports.
We'll soon be adding the ability to record CDD against other entity types such as LP's and others partnerships plus JV's, so Connectworks can be your AML/CFT solution for all clients.
We'll also soon be releasing the ability for clients, who on a subscription plan with at least signing access, to upload their own proof of address and proof of identity information and documents.
We're also currently working on the CDD workflows and integrations with a third-party provider to do easy and cheap client identity information checks.
New subscription plans announced: AML only and AML + client engagement
As outlined above, Connectworks can be your AML/CFT solution for all clients.
If you don't want to use the full entity-management functionality of Connectworks, or, if the client is an individual, LP, other partnership or JV you'll be able to use Connectworks for AML/CFT purposed only for just $5 per annum.
At a later date you'll also be able to upgrade this to add our flexible signing and a branded client portal (see Six reasons to have a branded client portal for your firm article below for details) for just $5 per entity more, for unlimited signing by all signatories (= $10 total per client, per annum)
A 2-year minimum subscription applies.
Pricing excludes GST.
Price does not include the cost of client identity information checks undertaken via Connectworks.
Six reasons to have a branded client portal for your firm. We know there are lots of signing products and portals out there. But we believe Connectworks offers a superior solution for 6 reasons.
(1) As well being a place for clients to sign and store documents, it's where they can upload their own identity information and documents for AML/CFT purposes (see AML/CFT article above).
(2) Connectworks offers the most flexible signing around.
With Connectworks, you can (option 1) upload a wet-signed document as 'signed' having sighted the clients signature (option 2) you can sign electronically on-screen, or (option 3) by inserting a signature already securely saved in Connectworks or, (option 4) you can print, sign, scan and upload. And Connectworks supports a mix of all 4 methods on the same document as well as the witnessing of electronic signatures, one-click approvals, oversight of outstanding signings and more.
(3) Connectworks has a unique document pack function for compiling, sending, signing and tracking multiple-documents. While documents go out as a pack, there is the ability to set specific instruction against each one, such as 'sign', 'read' or 'retain'.
(4) It's a place to securely store documents you've sent to clients previously, so they can find them and don't need to ask you for another copy. It can also act as a secure, private vault for clients as they can also set documents as 'confidential'. They're held with our top-levels of security and available to them at any time, from anywhere they've got internet access. A portal can therefore be seen as an added-value offering from your firm.
(5) Any document can be can be signed via Connectworks, not just ones generated from our precedents and clauses. As well as documents being sent to the Companies Office or clients, firms use Connectworks for signing tax returns and a multitude of other documents.
(6) Unlimited document signing is just $5 more for a company or $10 more for a trust per annum. Connectworks subscription plans are flexible, so you can pick and mix to have with or without signing, or full-access on a client-by-client basis. And finally there's no additional charge for having a branded client portal for your firm. Contact us today to find out more at email@example.com
Overviews - 60 min:
Companies - Friday 7th September @ 1pm
Trusts - Tuesday 11th September @ 11am
20min Training Webinars:
Connectworks AML/CFT functionality
- Friday 7th September @ 10.30am
- Friday 7th September @ 2.00pm
- Monday 10th September @ 2.00pm
Shareholder Continuity Tracking - Monday 10th September @ 3.00pm
Precedents and signing - Tuesday 11th September @ 2.30pm
An ASIC annual review in Australia, costs AUD $263 a year (about NZD$287) The equivalent here, a Companies Office annual return costs $41.40 here, or $39.95 if filed via Connectworks.
Quote of the month
"Price is what you pay. Value is what you get"