The decision on whether to include SMSF services in accounting and advice practices is now front and centre as many businesses are looking at how to bring in specialisation.

The federal government’s proposed requirement for Australian Prudential Regulation Authority (APRA)-regulated superannuation funds to have an independent chair and one-third of their boards made up of independent directors has been welcomed by two SMSF industry bodies.

Rapid technological change means accounting and advice firms must go back and assess every process and method to ensure they are effective for the future.

An Australian Securities and Investments Commission (ASIC) investigation has resulted in the principal of Sherwin Financial Planners being charged with a number of fraud offences.

Specialist SMSF administration provider Class Super has extended its series of key relationships with other industry organisations with the announcement of a newly formed partnership with actuarial certificate provider Haintz Actuarial.

All parties, particularly lenders, involved in the limited recourse borrowing arrangement (LRBA) process for SMSFs should be made to hold specific designations, separate to the qualifications already available in the industry, an industry aggregator has said.

Financial advisers must have a set of procedures in place to facilitate the wind-up of an SMSF, according to an industry expert.

In its submission to the federal government’s tax white paper, the SMSF Association has expressed its preference for the tax rules applying to superannuation to remain unchanged.

Accountants must ensure they conduct ‘needs-to-solution’ client meetings, which incorporate full engagement tactics, as they successfully convert clients over to advice services.