Business Daily Media

The Times Real Estate

.

CA ANZ responds to recent release of FASEA reforms

  • Written by Priya Kumar


Chartered Accountants Australia and New Zealand (CA ANZ) welcomes the release of the Financial Adviser Standards and Ethics Authority’s (FASEA’s) draft legislation for five out of the seven standards.

 

With the next round of consultation now open, CA ANZ believes its long-standing CA Program consisting of a multi-faceted approach is closely aligned with FASEA’s integrated model approach.

 

CA ANZ believes that at a subject level, members who have satisfied the academic requirements for entry to the CA Program have already been assessed as having the eight subjects required by FASEA to have a ‘relevant’ degree.

 

CA ANZ Financial Advice Leader Bronny Speed says we are pleased to see that FASEA has considerably simplified the ‘relevant’ degree requirements by working at the subject level.

 

“Chartered Accountants have a strong foundation and deserve recognition of the hard work that is required to gain and maintain their CA membership so they can continue their work as trusted advisers,” said Speed.

 

“This includes a TEQSA approved AQF8 post graduate qualification, strict adherence to our Code of Ethics, continuing professional development obligations and experience such as three years mentored training, in addition to their related degree.”

 

“All CAs who operate under an AFSL – either limited or full – have completed even further studies to have been registered on ASIC’s Financial Adviser Register.”

 

CA ANZ has been an active participant in the consultation process and has made submissions to FASEA on each of the seven standards.

 

“Our recommendations to FASEA on submissions thus far have pleasingly been largely accepted in requested areas such as the exam and the CA ANZ foreign qualifications assessment process,” said Speed.

 

“Given the integrated model approach FASEA has initiated and its alignment with the CA Program, CA ANZ is very well-positioned and in a unique position to genuinely assist FASEA with lifting the standards of advice in the community and we’re happy to work with them to that end.”

 

“We are now working through the information that has been released and will be making further submissions to FASEA on behalf of our members where appropriate.”

 

“There is and will continue to be a need for trusted practitioners to look after the financial needs of everyday Australians which is best served by retaining Chartered Accountants in the financial advice industry.”

 

Further information on CA ANZ’s submissions to FASEA can be found here.

Cutting edge AI technology designed for doctors to reduce patient wait times launched in NZ

New Zealand specialist doctors now have access to Artificial Intelligence technology to help reduce patient wait times and experts say it could be...

Launchd Takes Off: Former AFL Stars Lead Tech-Powered Platform Set to Disrupt Talent and Influencer Marketing

Backed by Institutional Capital, Launchd Combines Five Leading Agencies and Smart Technology to Deliver Measurable Results Influencer marketing i...

Meet the Australian fintech unlocking rewards for small businesses

Small businesses make up 98 per cent of all businesses in Australia, yet they continue to bear the brunt of economic uncertainty. According to Credi...

Teleperformance (TP) Business Insights Report Reveals Key Shifts in Consumer Behaviour

TP’s Business Insights report  into consumer behaviors and preferences, taking in more than 57,000 respondents across 19 sectors, is shedding new li...

HubSpot launches platform-wide AI tools to help businesses close the adoption gap

HubSpot today unveiled more than 200 updates across its customer platform to help businesses grow better. The release introduces smarter tools, new AI...

Why Every Leader Needs a Personal Branding Strategy in 2025

One of the best investments you can make in 2025? Your Personal Brand.In today’s competitive and digitally driven business world, authenticity and...

Sell by LayBy