No change to wholesale client test thresholds
From hallandwilcox.com.au: The Parliamentary Joint Committee on Corporations and Financial Services has decided not to raise the financial thresholds for wholesale investor and client … read more
Professional Practice
AICPA, NASBA propose new pathway to licensure
From www.journalofaccountancy.com: (US context) The AICPA and NASBA propose changes to the Uniform Accountancy Act, introducing a new pathway to CPA licensure based on … read more
Accountant Shortage
From futurefirm.co: (US context) The accounting industry is facing a significant shortage, with over 300,000 professionals having left the field and a 7.4% decrease … read more
The case for sustainability service lines
From www.icaew.com: (UK context) ICAEW’s Sustainability Accelerator Programme focuses on helping accountants build a business case for sustainability service lines, emphasising that sustainability is … read more
‘Flawed’ client-agent linking system
From www.accountantsdaily.com.au: The founder of Two Sides Accounting, Natalie Lennon, criticises the Australian Tax Office’s client-agent linking system as “fundamentally flawed,” highlighting its inefficiency … read more
ATO updates client verification guidance
From www.accountantsdaily.com.au: The ATO has clarified that client-to-agent linking cannot serve as a method for verifying a client’s identity, emphasizing that practitioners must still … read more
Updated Guidance on Financial Services
From sophiegrace.com.au: ASIC’s updated guidance allows AFS Licensees to use website disclosure information as an alternative to providing a Financial Services Guide.
The update, … read more
3 key steps to take your finance career to the top
From publicaccountant.com.au: Accountants can advance to leadership roles by diversifying their skillset through management training, gaining commercial experience, and developing self-awareness.
Strong analytical skills … read more
The Problems with NSW’s Generative AI Practice Note
From cartlandlaw.com: This review critically examines the issues with New South Wales’ Generative AI Practice Note.
It addresses the omnipresence of Gen AI, the … read more
Financial advice update – February 2025 | ASIC
From asic.gov.au: The Financial Advice Update for February 2025 provides insights into regulatory developments impacting financial advice in Australia, including professional standards, compliance reviews, … read more
Growing your accounting firm
From www.accountingtoday.com: Accounting firms can enhance growth by prioritizing client insights and focusing on authentic communication, understanding the client journey, and fostering long-term relationships. … read more
ICAEW Code of Ethics: impact of technology
From www.icaew.com: (UK context) ICAEW is revising its Code of Ethics to address the implications of technology in accounting, following updates from the International … read more
AI fails in a warning for all advisers
From www.smsfadviser.com: Generative artificial intelligence has faced scrutiny in legal contexts, particularly due to incidents where lawyers relied on AI-generated information that was inaccurate … read more
Adviser banned for recommending SMSFs
From www.smsfadviser.com: The Financial Services and Credit Panel has issued a two-year registration prohibition order against a financial adviser for recommending clients establish SMSFs. … read more
Financial advisers’ favourite investment strategy
From morningstar.com.au: Investment strategies such as strategic vs. tactical asset allocation and core/satellite investment approach are discussed, highlighting their uses, risks and the influence … read more