Accountants assert SMSF specialisation
The Institute of Chartered Accountants in Australia has moved to give members the ability to specialise in self managed superannuation funds (SMSFs).
The move, announced by the institute's head of superannuation, Liz Westover, said it would make it easier for trustees to access highly skilled, expert advisers.
She said the 2010 Cooper review had acknowledged that professional accounting bodies were best placed to be tasked with ensuring high levels of competency existed with respect to the provision of SMSF advice.
"With chartered accountants making up one of the largest number of service providers in the SMSF industry, the institute is a natural choice to provide a specialist program," Westover said.
She said the SMSF specialisation would be run in conjunction with the University of NSW and would give chartered accountants the opportunity to demonstrate their skills.
"More and more Australians are opting for SMSFs as their retirement savings vehicle of choice and it is important they have access to quality, accurate advice when they require it," Westover said.
AUTHOR
Mike Taylor
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