SPAA welcomes new licensing regime
The SMSF Professionals' Association of Australia (SPAA) has welcomed the Government's decision to establish a new transitional licensing regime for accountants.
The new regulations — Corporations Amendment Regulation 2013, No (3) — were announced recently by the Federal Treasury. They currently restrict access to the transitional licence application arrangements to CPA Australia, the Institute of Chartered Accountants and the Institute of Public Accountants.
Commenting on the announcement, Andrea Slattery, CEO of SPAA, said that she was confident that the industry body would have a significant role to play in the Government's proposed three-year transitional phase to 30 June 2016.
"The new regime is about lifting professional standards in the industry, a position SPAA has always endorsed," she said.
"We will be seeking to speak to the Government sooner rather than later, and will certainly be pressing our case very strongly to be recognised in the new regulations.
"It is important that the new licensing regime recognises practitioners who have attained an appropriate level of competence, regardless of which professional body they are affiliated with."
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