The ongoing controversy around the taxation of Australian superannuation was damaging public confidence in the system, despite current operations working well, according to the SMSF Association (SMSFA).

The Financial Ombudsman Service (FOS) would apply to all pathways following the end of the accountants’ exemption, including where accountants choose to operate under referral arrangements.

Accountants opting not to get licensed to provide limited or full financial advice will still be able to act on many execution-only services, but must use caution and disclaim their scope up front, a specialist SMSF lawyer has warned.

Class today announced the minimum subscription level of $5 million under the company’s initial public offering (IPO) had been exceeded, despite unforeseen delays caused by the need to lodge a supplementary prospectus.

BMR Corporate Solutions has successfully integrated with BGL Simple Fund 360.

Accounting businesses must find ways to leverage the disruptions challenging the industry in order for client relationships to prosper.

Accounting practices would need to determine whether their clients wanted more than just tax and compliance work as many were favouring an advisory-style relationship, according to a business futurist.

Topdocs has added automated Australian business number (ABN) applications for SMSFs to its online portal through a new direct link with the Australian Business Register (ABR).

Auditors should avoid sending out positive management letters or reports to trustees regardless of whether the fund meets its compliance requirements, according to an audit specialist.