FPA warns against fee-for-service model for accountants
The FPA has warned against an initiative that would see accountants who provide financial advice operating on a fee-for-service only model, saying there is a major difference between advice and accounting businesses and the move would be detrimental to consumers.
Last week, the Accounting Professional & Ethical Standards Board (APESB) closed submissions to its consultation paper on the post implementation of APES 230 Financial Planning Services – which were a set of standards introduced in 2013 for accountants who provide financial advice.
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