News : Accounting

Accounting, Education, Financial Planning

FASEA issues foreign qualification guidance

The Financial Adviser Standards and Ethics Authority (FASEA) today released its policy on foreign qualifications for financial advisers, outlining how new and existing advisers can qualify under the new education standards.

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Accounting, ASIC, Property

Industry echoes execution-only advice warning

SMSF industry experts have repeated warnings issued by the corporate regulator that there will be a clampdown on client-driven execution-only advice by unlicensed accountants establishing SMSFs for their clients.

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Accounting, Regulation

Substance of advice requires greater focus

The accounting profession must place greater importance on substance over form within the framework of the new licensing regime, an industry executive has said.

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Accounting, Education, Financial Planning, Regulation

Limited licensees urged to register

The impending Financial Adviser Standards and Ethics Authority (FASEA) deadline has caused confusion among accountants with a limited licence, mainly that they will need to be on the adviser register.

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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.

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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.

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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.

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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.

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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.

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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.

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