The countdown is on until 30 June 2016 when the accountants’ exemption will be repealed. However, with only four months to go, there still remains a high level of confusion about what is changing and what options are available to address the reform.

With a little over 12 months until the accountants’ exemption will be removed, it is time for all accountants to act or otherwise risk not having the right advice solution in place for their practice and clients come 1 July 2016.

Proposed amendments to the current Future of Financial Advice (FOFA) reforms are without doubt the most talked about issue in the financial services sector. 

A recent study found nearly 37 per cent of accountants intend to practice under the accountants’ exemption until it expires on 30 June 2016 and then see what happens before they make a decision on what to do next.