From the CEO: Welcome to a new year

This year the IPA will continue to create a stir with a number of exciting new initiatives for members. I am pleased to announce the launch of our new online Public Practice Quality Assurance (PPQA) reviews that will change the way member audits are conducted. The new system, which has been in development over the last year, will reduce the complexity and the time taken to complete a PPQA review. On average, the PPQA process has been reduced from five hours to less than two hours.

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FoFA reforms

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We continue to wait for further announcements from the Government regarding the Future of Financial Advice (FoFA) reforms. These have been a major focal point for the Joint Accounting Bodies since they were put forward by the Rudd Government in early 2010.

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trade max iqoption Currently, accountants are able to provide advice on self-managed superannuation funds (SMSFs) under the exemption provided by Regulation 7.1.29A of the Corporations Regulations 2001. With the FoFA reforms, this exemption will be removed, meaning that accountants will be unable to provide SMSF advice without either holding an Australian Financial Services Licence or being an authorised representative of a licensee. With this in mind, the IPA introduced a new Financial Services Package that enables members to offer clients scaled levels of advice through two of Australia’s largest wealth managers, AXA and MLC.

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köper viagra 200 mg epharmacist Recently the Institute made its pre-budget submission, which put forward a number of recommendations on tax, superannuation, small business and the FoFA reforms. One of our major recommendations continues to be a streamlined and more equitable small business tax regime, which has received a favourable reaction from various stakeholders. I would like to take this opportunity to thank all of our members and IPA faculties for your valuable contribution to our pre-budget submission.

Andrew Conway

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