News : Accounting

Accounting, Regulation

Govt unlikely to bring back accountants’ exemption

The federal government is unlikely to be in the mood to reintroduce the accountants’ exemption given recent and ongoing inquiries.

read more
Accounting, Education, Financial Planning

FASEA confirms relevant degree standards

The Financial Adviser Standards and Ethics Authority (FASEA) has registered the legislative instrument for relevant provider degrees, qualifications and courses.

read more
Accounting

Merry Christmas

The team at selfmanagedsuper would like to wish all of its readers a very Merry Christmas and a happy, healthy and prosperous New Year.

read more
Accounting, Retirement, Superannuation

Work test rules intricacies require attention

It is vital for advisers and accountants to be cognisant of the interplay between the bring-forward rules, work test exemption and downsizer contributions, an SMSF expert has said.

read more
Accounting, Education

FASEA ignores limited licensing regime

The Financial Adviser Standards and Ethics Authority’s (FASEA) draft legislation for education standards fails to “appropriately recognise and account for” the limited licence advice regime, especially for accountants with a licence to provide SMSF advice, according to an industry body.

read more
Accounting, Auditing

Termination doesn’t end auditors’ statutory obligations

SMSF clients can terminate an auditor’s engagement if they feel the auditor is excessively inquisitive, but section 129 of the Superannuation Industry (Supervision) Act, governing the obligations of actuaries and auditors with regard to fund compliance, can still apply, according to a specialist law firm.

read more
Accounting, Education, Financial Planning

Advisers cop steep exam fee

The Financial Adviser Standards and Ethics Authority (FASEA) has released its examination legislative instrument for financial advisers, including how much it will cost for an individual to sit the professional exam.

read more
Accounting, Auditing, LRBA, Regulation

Triennial audit cycle unlikely to proceed

The likelihood of legislation for the three-year audit cycle for some SMSFs passing through Parliament under the current federal government is low given the likelihood the next election will be held in May 2019, according to an SMSF expert.

read more
Accounting, ASIC, Compliance

Unlicensed accountants get new documentation tool

Specialised SMSF training firm Smarter SMSF has joined forces with Licensing for Accountants to launch a documentation tool for unlicensed accountants, allowing them to provide execution-only services without providing advice.

read more
Accounting, Compliance, Education

Limited licensing at odds with FASEA requirements

The new education requirements for accountants who wish to continue providing financial advice coupled with the limited licensing requirements have made compliance activity excessively onerous for these practitioners, according to an online technical service provider.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.