$3m threshold to spur new challenges around licensed advice

The current advice framework creates significant issues for unlicensed accountants looking to provide advice on the proposed $3 million threshold, warns CA ANZ. In this episode of the Accountants Daily podcast, Tony Negline from CA ANZ shares his thoughts on some of the recent developments happening with advice reforms and superannuation policy. With the government looking to introduce legislation for the experienced pathway for advisers soon, Mr Negline discusses CA ANZ's views on the measure and concerns about the absence of a sunset clause. He also highlights the need for further reform to create a fairer regulatory environment for accountants and why the Quality of Advice Review didn't go far enough. He also explains why the $3 million threshold will create new difficulties for unlicensed accountants due to the way the existing framework operates and why it needs to change.