Financial Standard Comments - ASIC questioned over new powers ASIC faced questions over the potential risks in its proposed increase in powers under FOFA during the Parliamentary Joint Committee yesterday in a session where the regulator gave preliminary results to its planning shadow shop survey with "woeful" results for planners. https://www.financialstandard.com.au/feed/latest?story=12613572 Wed, 25 Jan 2012 13:08:46 +1100 Wed, 25 Jan 2012 13:08:46 +1100 en-AU Copyright 2026 Financial Standard 5 Comment by max () ASIC's shadow shopping exercise clearly a politically contrived agenda driven exercise specifically designed to be available at this point of time.

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]]> max () Wed, 25 Jan 2012 13:08:46 +1100 Comment by Mike () Who was on the panel? Were they people with a planning or accounting background?

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]]> Mike () Wed, 25 Jan 2012 16:42:41 +1100 Comment by Alan () Do you want to know what I think about shadow shopping? I'll tell you anyway.......it's a shameful, disgusting and sneaky way of attempting to find out whether a group of people are doing anything "wrong".
Is it done with doctors? Lawyers? Accountants? politicians? bureaucrats? Anyone else in society?
I think you get my drift.
This is very different to an audit which makes sure advisers are using the correct procedure and have their paperwork in place as required by the legislation and the licence holder.
It might work with restuarants but I suspect it is hardly appropriate for those who offer a professional service and advice.
People are always free to get a second or third opinion or even ask their advisers for alternative options.

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]]> Alan () Wed, 25 Jan 2012 17:00:21 +1100 Comment by Bob 2 () I would like to see the other side of politics organise a shadow shopping excercise on industry funds for a change

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]]> Bob 2 () Thu, 26 Jan 2012 07:10:49 +1100