The Institute of Public Accountants (IPA) and the SMSF Professionals’ Association of Australia (SPAA) have put in place a collaborative agreement that will see the two bodies working together to cover off specific areas of the SMSF sector.
The IPA and SPAA will now jointly address topics such as accreditation, research and policy development, education and advocacy.
“The collaboration agreement between IPA and SPAA will create a strong voice for public accountants engaged in the provision of advice and services to Australia’s $474 billion-plus SMSF sector,” IPA chief executive Andrew Conway said.
“Working together to advance the interests of members is what professionals seek from their professional body. We have a great deal of respect for the creation of a profession in SMSF advice as well as the work that SPAA does in support of the SMSF sector, and we believe this agreement will provide an even stronger voice and enhanced member services.”
The two professional associations believe the agreement has come at the right time, considering the changes the SMSF sector is about to experience under the Future of Financial Advice reforms, the most significant of these being the new accountants’ licensing regime and the auditor registration process. “We acknowledge the fine work of the IPA in recent years to advance policy issues and support their members and others engaged in the provision of financial advice,” SPAA chief executive Andrea Slattery said.