Australian accounting bodies urge stronger PII transparency

Australia’s peak accounting and self-managed super fund (SMSF) bodies have lodged a joint submission to the Treasury’s consultation on professional indemnity insurance (PII) in the context of the Compensation Scheme of Last Resort (CSLR). In the submission, Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia, the Institute of Public Accountants and the SMSF Association urged Treasury to lift transparency and strengthen data collection on PII claims. In a statement, CA ANZ said robust ...