Financial reporting for licensees

Who cannot provide MFR reports

If an accountant has been excluded under the QBCC Act and given an exclusion notice by the QBCC, they cannot prepare MFR reports.

An accountant can be excluded by the QBCC if:

  • within the previous 3 years, the accountant has:
    • given information they knew to be false or misleading to a licensed contractor, or to the QBCC, in relation to a licensed contractor’s satisfaction of the MFR or
    • failed to comply with the MFR in relation to information required to be given to the QBCC
  • not complied with a requirement in a previous exclusion notice given to the accountant.

Excluded accountants will not be able to prepare MFR reports for QBCC licensees  for a period of 3 years.

You can check the register of excluded accountants to find out if an accountant has been excluded under the QBCC Act.