News : Accounting

Accounting

Flawed LRBAs will create unfixable NALE taint

LRBA NALE

LRBAs started in non-arm’s-length circumstances will trigger NALE unless they are ended and restarted on new terms that comply with new ATO requirements.

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Accounting, Auditing, Documentation

New aid for amended audit process

MyWorkpapers accounting audit

A new cloud-based service has been introduced to the market to make supporting document transfers between accounting and audit firms more secure.

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Accounting

Year-end investment strategy review wise

SMSF strategy review

The super fund investment strategy should be reviewed annually in conjunction with the end of the financial year.

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Accounting, Financial Planning

Accountants backing away from SMSF advice

SMSF advice accountants

The number of accountants offering advice to SMSF clients via financial planning arrangements has dropped markedly in the past year.

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Accounting, Financial Planning

Accountants consolidate their standing

accountants ethical

Australians still regard accountants as the most ethical and honest finance-related practitioners.

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Accounting, Practice Management

Pricing behaviour needs to change

Accounting client pricing

Formulating an appropriate price to charge accounting clients must be driven by what the practice feels the advice is worth and not unrelated, external factors

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Accounting

Discounts must be compensated

accounting fees

Accounting firms must request adequate compensation for any discount to their service fees requested by a client.

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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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