Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MORETrustees risk legal action from lack of investment strategy
Trustees of multi-member SMSFs could be putting themselves at risk of legal action from other fund members if they do not have an adequately documented investment strategy in place, according to Heffron SMSF Solutions.
In a recent blog post, the SMSF administrator’s head of SMSF technical and education services, Lyn Formica, said as developing an investment strategy was one of the covenants of super law, trustees who did not meet this requirement could be sued by fund members down the track if they suffered a loss as a result of the fund’s investments.
Read more at the Accountants Daily.
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