‘Significant increase’ in licensing applications predicted
Chartered Accountants Australia and New Zealand (CAANZ) says while the current levels of licensing applications are “becoming worrisome”, it expects a surge in application numbers early next year.
CAANZ superannuation leader Liz Westover said a lot of its members are currently undertaking the training at the moment and are unable to apply for the licence until it’s completed which can take time.
“Even for someone who has made all the decisions and commenced their training six months ago, we would not have expected them to have applied for their licence yet,” said Ms Westover.
“So come next year we are expecting to see a significant increase in the number of applications for licensing.”
Ms Westover said there was “no doubt the numbers of accountants who have made decisions is increasing”.
She said that the accounting body is still seeing some people continue to struggle to get across all the information that’s been made available to them, however.
“We are aware of a lot of misinformation out there and confusing information and we are encouraging our members to come and read the resources that we have made available to them,” she said.
“Some of the confusion is around what they can and can’t do around licensing, we’ve seen some scaremongering going on, just to try and push people down one particular pathway instead of another.”
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.