What Should You Consider When Selecting an AFSL?

Considerations when selecting an Australian Financial Services (AFS) Licensee

There are a range of options to consider before the "accountants' exemption" is removed from 1 July 2016. One of the options is to consider operating as an authorised representative under another entity's Australian Financial Services Licence. There are a number of important factors that should be considered when selecting a licensee. This guide has been developed by CPA Australia and the Institute of Chartered Accountants Australia to highlight these factors, provide guidance on why they are important and examples of the questions you should consider as part of your AFS licensee selection process. Note: These are not all the factors you should consider. There is also value in speaking to other professional accountants who operate under the licensees you may be considering.

Ongoing Guidance CPA Australia and the Institute are committed to providing members impartial guidance on this reform. There have been extensive discussions and industry comment over the various options to approach this reform, as well as the pros and cons of each option. It is important that if you are unsure of any information provided that you check this with your respective professional accounting body.

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