‘Bound to be’ accountants skirting new rules
With ASIC “actively monitoring” the establishment of new SMSFs to ensure accountants aren’t giving advice beyond their scope, one firm director believes it’s likely many are risking serious penalties by overstepping the mark. As reported earlier this month, ASIC’s Corporate Plan for 2016-17 to 2019-20 pinpoints new licensees and unlicensed accountants as a key area of surveillance.