ASIC cuts the paper trail
A revised registration process for prospective auditors is set to speed up application turnaround times, according to the Australian Securities and Investments Commission (ASIC), which will provide clearer instructions to businesses and individuals seeking registration.
To simplify the process, ASIC has located all guidance about registration in one document — Regulatory Guide 180 — which will help applicants to better understand how an application is processed and detail all supporting documents required for lodging the application.
The online registration system has also been updated to better support the registration process, which means individuals and companies may apply for registration as a company auditor or an authorised audit company, submit changes to their registered details, and submit their annual statements online, according to ASIC acting executive director, regulation John Price.
“These changes are part of ASIC’s broader commitment to providing businesses with better access to ASIC, including our systems, and minimising compliance costs,” he said.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
