News : Accounting

Accounting, Education, Financial Planning

FASEA under fire for not providing course notes

Accounting services provider AccountantsIQ has admonished the Financial Adviser Standards and Ethics Authority (FASEA) over its intention not to provide preparation materials for the financial adviser examination, arguing this defies the purpose of the exam.

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Accounting, Financial Planning, Practice Management

Accountants still regard advice as sales

Accountants looking to broaden their services into advice, particularly for SMSF clients, are still put off by the selling aspect of a financial adviser’s role, an industry licensing expert has revealed.

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Accounting, Education

Limited AFSLs may be caught by full FASEA regime

The Financial Adviser Standards and Ethics Authority’s (FASEA) new education and training standards paint a challenging picture for practitioners, particularly those who provide predominantly SMSF advice under a limited licence, an industry executive has said.

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Accounting, Appointments

Bowler takes on GM role to plug gaps

Licensing for Accountants founder Kath Bowler has taken on an additional role of general manager for the training and compliance arm of a legal firm, with plans to leverage off the business’s synergies, as well as fill product gaps.

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Accounting, Compliance

Accounting body calls for exemption reversal

Tax & Super Australia is gravely concerned about the mounting negative effects of the Australian financial services licensing regime on accountants and wants the exemption to be reinstated.

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Accounting, Practice Management

SMSF tech costs to plummet 70 pct: Mclowd

SMSF practitioners and trustees will experience a 70 per cent reduction in their accounting software technology costs over the next three years, according to accounting and SMSF software provider Mclowd.

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Accounting, Education

FASEA bridging course should be practical

AccountantsIQ has called on the Financial Adviser Standards and Ethics Authority (FASEA) to make its one-unit bridging course for accountants relevant and practical if it does not exempt accountants from further study to meet new education and professional standards.

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Accounting, Strategy, Superannuation

Manual ECPI now impractical

The new guidelines for calculating exempt current pension income (ECPI) require additional record-keeping, potentially covering several accounting periods and more data, and are more difficult to apply, meaning specialised software is critical to avoid mistakes.

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Accounting

Yield-only fixation brings unnecessary risks

SMSF trustees must not simply chase yield as they may be subjecting their portfolios to unnecessary risks, according to AMP Capital.

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Accounting

Long road to repairing adviser reputation

A report naming the top 50 financial advisers for 2018 is a positive step in helping to rebuild the advice industry’s battered reputation, but the road to redemption will be long, according to an SMSF industry body.

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