‘Thousands of accountants’ on regulators’ hit list
ASIC has upped its record-keeping expectations of advice professionals, and accountants are being told that, buoyed by an increased budget, the regulators are set to check in on thousands of accountants. Accountants are being warned that ASIC will expect documentation of new licensees in particular to be in good order, with ASIC set to start visiting firms operating in the AFSL environment.