subscribe to our newsletter
Independence central to accountants’ licensing call

Independence central to accountants’ licensing call

25 May 2015

Independence is the most important factor for accountants when making their licensing decision, according to research by financial services group Perpetual.

In a survey of the group’s accounting network, 84 per cent of accountants said maintaining independence is ‘of critical importance’, more so than any other factor.

Perpetual Private's Dermot Lindsay, national manager for alliance partners, said the finding was unsurprising, noting that independence has been important to accountants for decades.

“It is what they stand on when it comes to clients’ best interest,” he said.

“They’ve always been held as the trusted adviser within their clients’ eyes and the independence piece is integral to holding that mantle.”

Mr Lindsay warned that some licensing options may jeopardise the independence of an accountant in their clients’ eyes.

“My understanding is if they were in an authorised rep situation, most licensees would be receiving some form of commission from legacy product or insurance or whatever, and if they’re in that situation they lose the ability to call themselves independent," he said.

“It is a perception within the market and it’s something that they want to hold on to, that they can actually hold themselves out as independent.”

Independence central to accountants’ licensing call
smsfadviser logo
  • 23
  • 07
  • 54
  • 01

SMSF Summit is nearly here!
Have you got your ticket?

join the discussion

What do you plan to do in response to the new adviser education standards?


Get the latest news and opinions delivered to your inbox each morning

In this month's issue:

  • Time wrap
  • The tech bull run
  • From hobby to passion
  • Golden Years
  • An untimely reminder
  • Why change is so difficult
  • Key Strategies for equalising super