THE Institute of Public Accountants (IPA) has welcomed the announcement of the appointment of Deen Sanders to the role of chief executive officer of the Financial Adviser Standards and Ethics Authority (FASEA).
“The appointment of Dr Sanders is an excellent decision made by the Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer,” said IPA chief executive officer, Andrew Conway.
“Considering Deen’s great work at the Professional Standards Councils, we believe FASEA is in safe hands particularly to guide the organisation through its commencement phase. As accountants enter financial services, it is critical that appropriate professional and ethical standards are developed and applied to all providers of financial advice, for the benefit of consumers.
“Our members are already subject to a code of ethics, mandatory continuous professional development and are governed by a well-defined disciplinary process, so they are used to having standards applied.
“The IPA looks forward to working with Dr Sanders and FASEA to ensure successful implementation of legislation to raise the standards of providing financial advice and to ensure consumers feel confident in their financial advisers,” Mr Conway said.