The New Zealand Institute of Chartered
Accountants has introduced a new Financial Advisory Engagement
Standard (FAES) that will be effective on 1 July.
The FAES introduces mandatory requirements
covering all aspects of the provision of financial advice, from
engagement acceptance to communication and, if applicable,
implementation of advice.
The FAES applies to all members of the
institute who provide financial advice, whether or not they hold a
certificate of public practice.