News : Accounting

Accounting, Documentation

Class acquires document provider

Class ReckonDocs

SMSF technology platform Class has acquired documentation service ReckonDocs as part of its ongoing transformation strategy.

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Accounting, Financial Planning

TPB recommendations need discussion

TPB superannuation advice accountants

The TPB review recommendation relating to super advice from accountants needs clarification and discussion according to accounting bodies.

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Accounting, Financial Planning, Superannuation

Drop exam, licence for limited super advice

accountants limited superannuation advice

More people could receive assistance if accountants were not subject to licensing or adviser exams in order to provide limited super advice, an industry body has said.

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Accounting, Auditing

No existing referral threshold

auditor referrals threshold

Accounting firms do not have a prescribed number or percentage of referrals from one source they must avoid in order to comply with the amended auditor independence standards, a specialist practitioner has said.

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Accounting, Auditing

Cheap audits lack expertise

Cheap SMSF audits

Expertise and reliability are crucial when choosing an SMSF audit service and the decision should not be based on price alone, a specialist auditor says.

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Accounting, Auditing

Auditor links with accountants must be clean

Auditors ex-employee accountants

Auditors using former employees to complete financial statements for SMSF clients will fall foul of independence standards.

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Accounting, Education

FASEA reforms a licensee tipping point

FASEA limited licensee

The limited licensing model has become untenable due to a number of factors, the most impactful of them being the introduction of FASEA’s latest education requirements.

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Accounting, Financial Planning, Regulation

Licensing reform should span all SMSF advice

licensing reform SMSF advice

Any potential changes made in an effort to reform the licensing framework should apply to everyone in the SMSF advice space, not just accountants, an accountant licensing expert says.

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Accounting, Administration, Auditing

Admin services likely to win out

administration auditing

Two senior industry specialists have questioned the prudence of accounting firms retaining auditing services over providing administration and financial statement preparation for SMSFs

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Accounting, Financial Planning, Superannuation, Tax

Advice use could inject $600b into economy

advice economic boost

Widespread use of professional financial, superannuation, tax and accounting advice could provide billions in economic benefits to the nation, according to new research.

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