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Gaps in ASIC's accountant crackdown surface

“Substantial deficiencies” in knowledge may be contributing to ASIC’s crackdown on accountants’ provision of disclosure documents to clients, but there are gaps in ASIC’s announcement last week.

Gaps in ASIC's accountant crackdown surface
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Late last week, ASIC said it has found that, in recent fundraisings, some accountants have used trust or company structures that purport to allow investors who are not 'sophisticated investors' to receive offers to purchase shares without a prospectus or other disclosure document.

Read the full article on Accountants Daily.

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