Financial Planning Standard Review

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Are you an accounting professional working under the Accounting Professional and Ethical Standards (APES) 230 industry standard? The Board overseeing the standards wants to know how the standard is measuring up in the face of widespread industry change.

The APES 230 (and yes, we get the funny with the acronym, keep it sensible people ...) is the industry standard applied to accountants providing financial planning services. The Accounting Professional and Ethical Standards Board (APESB) is taking a post-implementation look at standard and is seeking feedback from accounting professionals working under the standard, and anyone else affected by it.

APES 230 was issued in 2013 and came into effect on 1 July 2014, with provisions relating to professional fees and third party payments coming into effect a year later.

Former Attorney-General and current Chair of the APESB, Nicola Roxon, said, “The Board is conducting the review now, given the passage of time since the standard was issued as well as recent significant developments in the financial services landscape in Australia."

Comments on the Consultation Paper: Post-Implementation Review of APES 230 Financial Planning Services are requested by 30 June 2017.

The consultation paper is available on the APESB website www.apesb.org.au.

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