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Common SMSF accreditation needed
The self managed superannuation fund (SMSF) sector needs a nationally recognised accreditation scheme to give current and prospective trustees confidence, according to specialist SMSF firm Heffron.
Heffron managing director, Martin Heffron has posed the need for the national accreditation scheme saying that despite the size of the SMSF sector there were no uniform standards used to accredit SMSF service providers.
“For consumers to have confidence in the level of service being offered by accountants, auditors and financial planners we need to accredit the company not the individual,” he said.
Heffron said that the issue was further complicated by the differing standards required of the various professional bodies operating in the SMSF sector.
“The best way to ensure the SMSF consumer has the information they need, is for all the professional bodies to agree on a set of high quality SMSF standards that are applied across the board and used to accredit organisations as opposed to individuals,” he said.
AUTHOR
Mike Taylor
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