Accounting body reviews FP standard
The Accounting Professional and Ethical Standards Board (APESB) is carrying out a post-implementation review of the standards which covers accountants providing financial planning services.
The standard known as APES 230 was issued in 2013 and took effect from 1 July 2014, while provisions relating to professional fees and third party payments came into effect a year later.
The APESB was carrying out the post-implementation review to ensure the standards were relevant amidst industry change, with the board seeking comments on its consultation paper from stakeholders and the community about their experience in implementing APES 230 and other comments related to the change landscape which could impact the standard.
APESB Chair, Nicola Roxon said: “The board is conducting the review now, given the passage of time since the standard was issued as well as recent significant developments in the financial services landscape in Australia”.
Comments on the Consultation Paper: Post-Implementation Review of APES 230 Financial
Planning Services were due by 30 June 2017.
AUTHOR
Malavika Santhebennur
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