Challenge and change – an update for the accounting profession
A speech by John Price, Commissioner, Australian Securities and Investments Commission delivered at the IPA Public Practice Symposium (Sydney, Australia) 17 March 2016
Good afternoon, and thank you to the Institute of Public Accountants (IPA) for the opportunity to present to you today. In my presentation I want to talk about a number of regulatory changes and challenges that hopefully will be of some interest. This includes:
- what ASIC is doing to help small business
- an update on ASIC’s role in self-managed superannuation fund (SMSF) matters – for example, SMSF auditor registration and the looming changes for any practitioner who provides advice about self-managed super, and
- how we work with other regulators using our work with the Australian Taxation Office (ATO) on SMSF auditor registration and with the Tax Practitioners Board (TPB) as a couple of examples.
I’ll also mention briefly some current and proposed reforms for any practitioners who work in the insolvency area.