At the very heart of any professional practice lie the knowledge, experience and abilities of the partners.

Before it changed its name and branding, our past motto paints a clear picture of what the partners in Corporate Accountants bring to clients of the practice. Our history shows that it is no idle boast.

Before Prosperity Comes Knowledge: Your Prosperity, Our Knowledge.

We asked partners Bob Lamont and Stephen Healy a number of questions designed to provide an insight into their skills, knowledge and just what makes them who they are. Bob Lamont is the founding partner; Stephen has been a partner since 2009.

Bob is a Director and Partner in Corporate Accountants Pty Ltd.
He is nominee for the licences held in Financial Planning and Finance Broking.

Tell us about your qualifications.

I have been lucky enough to have enjoyed a diversified university education in the Arts, Education, Commerce & Economics. In more recent times, I have formalized my experience in the financial markets by completing my Diploma in Financial Services (Financial Planning).

Have you any other qualifications? Yes I have an early Diploma in Financial Advising, Cert IV Financial Services
(Finance Broking) and I have been certified as an accredited advisor in Equities by ASX after passing exams in a specialist course conducted by the Kaplan Institute.

What about your schooling? Anything interesting there?

I went to Ascot Primary School in Brisbane In those days, ours was about the only State School in the world where we wore shoes, long socks and ties every day – and we played Aussie Rules! High school was St Paul’s School at Bald Hills and I was one of the first group of boys to attend the place. My memories are of compulsory Akubras, grey suits, red & green striped ties, continual floggings on the sporting field and the maniacal waving of the cane by the headmaster of the time. I’m sure it’s different now.

You were something of a sports nut. Correct?

I’m typical of my age group. TV didn’t come to Brisbane until I was about to complete primary school and we listened to serials on the radio for an hour each night. Add some reading and board games and that was about it for unhealthy indoor activities in those days. No computer games. We played sport, day in day out. I became an age rep in Rugby Union, graded player in Rugby League (Qld & NSW), Cricket (Qld & NSW) and Squash. I also later surfed competitively on wave skis and played Golf. I now go nowhere but fast on an exercise bike each morning.

You’ve had a pretty varied work history too.

True - as have had lots of people my age. Many of us got our initial tertiary qualifications on fellowships. We were paid to attend school, university and college and on completion were bonded to employment by our mentor. Many doctors and dentists of my age went through the Navy. Lots of lawyers and accountants were like me, bonded to the Department of Education for a number of years. I became a Secondary Teacher in both State and Private Schools here in Queensland and in NSW when I was playing footy down there. I then lectured in the School of Business (QIT & TAFE), before becoming a Corporate Analyst and Stockbroker. In the late 1980’s, after the 1987 Stockmarket crash I changed direction a bit and became a Financial Journalist, Financial Planner and Practicing Accountant. That’s where I am today!

I want you to list what you see as your particular, professional skills.

It’s hard to pin-point that sort of thing. I have been blessed with a first class education. Lots of people pooh-pooh tertiary education as theoretical clap-trap and to a degree that’s fair enough. But, by the same token, higher education should teach you how to seek information, interpret it and assimilate it so that it provides practical answers. When you combine a formal education with 45 years’ experience in the workforce, you should have something special to offer. That said, this is my attempt to briefly list the professional skills I bring to the table:

• Ability to analyze complex situations and apply appropriate solutions;
• Extensive knowledge of tax law & accounting principles;
• Academic & practical background to provide expert financial management advice to business;
• Academic & practical background to provide expert advice on macro & micro economics and their influence on market behaviours, particularly in reference to equities markets.

You write a lot of blogs and newsletters for people. Have you had other publications?

For a number of years, my articles were published weekly by PNQ, then the APN Group. I have published a number of treatises & booklets on a variety of topics over the years including GST (2000), Superannuation, Financial Management, Marketing, the Economic Theory of Nucleus Enterprises and Tax Planning. In the late 1980’s I was engaged to write a huge training manual for a Financial Planning Group.

What is the best piece of advice you’ve been given?

There’s been heaps, some of it printable!

Probably the one that molded me most was given by a dual international who played tight head prop when scrums were real scrums in Rugby League. Being tall, I was a loose head prop. He told me that my first priority was to use my upper body strength to wrestle for a “sighter” for the hooker so that he could rake the ball off my outside foot. My second priority? Look after the yappy little guys who scooted around the back of the scrum. I enquired after his first and second priorities: his first, look after the hooker’s noggin in the scrum; the second, look after mine!

The lesson I took from this was that living a decent life is all about looking out for those among us who don’t have our strength – family, friends, acquaintances, humanity. And I’m not just talking about physical strength either. There are many things those of us who are “strong” have to offer that are nothing to do with physical size and strength.

This is the real curly one for you. Describe you as you see yourself.

I’m big, tall, bald, relatively fit and verging on ancient.

Given my answer to the last question, it is probably not surprising that I absolutely hate bullying of any kind – physical, emotional, psychological, financial. In the most basic sense bullying is something that takes place among individuals – and I find that disgusting in its mindlessness.

But it’s in the broader sense where bullying comes from governments interfering with people’s freedom to control their own destinies that rankles me most on both a personal and professional level. As far as I am concerned, over-regulation and the aggressive enforcement of over-regulation by bureaucrats is little different to what’s happened for a generation in the Arab states.

I have something of a history of vehemently defending deserving people against bullies in government from the ATO, ASIC, the Child Support Agency or the States Offices of Revenue.

Stephen is a Director and Partner in Corporate Accountants Pty Ltd.
He is the registered tax agent for Corporate Accountants.

Tell us about your qualifications.

• I have successfully attained qualifications in accounting and tax.
• I have also received specialist qualifications in SMSF auditing allowing me to audit Self Managed Super Funds.
• I have a public practice certificate allowing me to trade as professional accountant in practice.

Do you go to a gym?

Well, not really. I do something far more interesting and fun. Three days a week I get up at 5 am and join about 20 others in doing a “commando” boot camp. The guy that runs it is an ex SAS soldier. It keeps me very fit. Through that we all did the Kokoda Challenge in 2010 which was a charity walk of 96km’s and usually once a year we row down the Brisbane River and camp out over the weekend.

Any other interests?

I really enjoy my reading. In fact I’ve become very close friends with American International New York Times #1 best seller Terry Goodkind. I read the newspaper everyday to keep up on current events. I enjoy the movies and have a blu ray player (despite my lovely wife stating that she can’t tell the difference).

What about your work history?

Well, my work history is lumped all in working in the Accounting & Tax industry. I started what one would call an apprenticeship with Bob Lamont. I gained real world knowledge at the same time as I was studying which helped enormously. I remember that my views in the classroom were often very different to my study partners as they usually didn’t have any real life practice. I also remember on a few occasions the lecturer’s turning to me for advice in a few areas. I started working in an accountancy practice from the very bottom rung. I didn’t have any study under my belt when I started so I had no preconceptions at all. Working from the ground up, I got to see how the office works before I started in on the actual accounting work. This has given me a greater Knowledge and respect for policies and procedures.

Is there anything in particular in your work that you are proud of?

Yes in a word. After many years in the industry I had found that there was something lacking in the accounting software department for small business. Most people didn’t need MYOB or other complex programs but I couldn’t find a suitable replacement. So I developed my own called SimCash© which can be downloaded for a free trial from our website. Every client that has used it has raved about how good it is.
I’ve created the very first software SimAudit© for SMSF auditors. There’s currently nothing like it on the market and the accounting bodies have said that they love it.

Can you list what you see as your particular professional skills?

I’ll give it a try.

• The ability to communicate in appropriate terms to clients
• Setting up appropriate record keeping systems for different clients
• Tax & Accounting knowledge

What about your dealings with the ATO?

Usually the ATO are pretty good, but every now and then the ATO overstep the line. There are numerous court rulings where judges have been very critical of the ATO.

We’ve had a few wins with the ATO. In one instance the ATO embarked on this “crusade” regarding particular income for a section of clients. They were completely wrong and not only did we win multiple cases, but we were able to get the ATO to compensate our clients financially.

We’ve had numerous other wins as well but the bottom line is that we don’t let our clients get bullied by the ATO.
I suppose I’m quite critical of certain things that are not necessarily the ATO’s fault. Things that are hypocritical really get on my nerves. Take Payroll Tax (a state tax). It is one of the most disgusting, hypocritical taxes you can get.

What is the best piece of advice you’ve had?

I suppose the best piece of advice I’ve had has to do with productivity. Regarding my own and regarding my clients. Probably the biggest concern facing small business today is productivity of staff. Just looking at from my own business point of view it’s always been a major issue. So the advice I received was in regards to how much staff members should be making the business in dollar terms. It’s the one formula or ratio that I keep applying again and again and again to my clients’ business performance.

Now for the curly one!! Describe you as you see yourself?

I’m tall, slim, red-haired, the perfect physical specimen and a dead-set sex bomb. Apart from that I reckon I can describe myself in one word - rational.