News : Accounting

Accounting, Financial Planning, Regulation

New licensing framework recommended

FASEA adviser exam results

The SMSF Association and industry bodies must work together to formulate a new licensing framework for advice practitioners within the context of the large unmet advice gap, an industry executive has said.

read more
Accounting, Financial Planning

Accountants risk losing trusted adviser title

Accountants are jeopardising their role as the trusted adviser for SMSFs by not embracing the licensing regime following the removal of the accountant’s exemption and with financial planners becoming more willing to adapt to new education standards and other regulations.

read more
Accounting, Education, Financial Planning

FASEA exam appropriateness questioned

Concern among accountants continues to exist over the appropriateness of the bridging exam the Financial Adviser Standards and Ethics Authority (FASEA) has imposed on existing advisers with a relevant degree currently operating under a limited Australian financial services licence.

read more
Accounting, Education, Financial Planning

CAANZ pleased with FASEA requirements

Chartered Accountants Australia and New Zealand (CAANZ) today welcomed the release of the Financial Adviser Standards and Ethics Authority’s (FASEA) draft legislation for five out of the seven standards.

read more
Accounting, Administration

Class integrates with Xplan

Class today announced its new data feed integration with IRESS’s wealth management software, Xplan, which will allow a shared single view of investments and other data for financial advisers, accountants and their clients.

read more
Accounting, Financial Planning, Investments

Licensing regime a one-dimensional view on advice

The limited licensing regime for accountants is proving to be too onerous and has failed to recognise financial advice is not a monolithic unit, according to new online marketplace and platform offering OpenInvest.

read more
Accounting, Education, Financial Planning

FASEA lacks limited licensee details

The latest round of legislative instruments and the updated standard blueprint from the Financial Adviser Standards and Ethics Authority (FASEA) provide little to no help to those providing SMSF advice under limited licences, according to wealthdigital.

read more
Accounting, ATO

New SMSFs favour specialists over generalists

New business generated by specialist SMSF firms is nearly three times that of generalist practices as new SMSFs prefer specialists, especially those with a larger number of funds, research released this week revealed.

read more
Accounting, Documentation, Regulation

TBAR will raise technology use by accountants

Transfer balance account report (TBAR) requirements will force accountants to refocus on how they will use technology in their practices to service their SMSF clients, a technical expert has said.

read more
Accounting, Financial Planning, Regulation

Licensing framework fails to kick goals: report

The removal of the accountant’s exemption in 2016 has failed on the government’s objective of improving access to SMSF advice, with over 35 per cent of practices having no licence, according to a new study released today.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.