Is FAAS (Finance As A Service) Just a Way to Bypass Regulatory Oversight?
CPA Canada’s new competency map for public accountants in small, 1 or 2-partner firms is extremely difficult to comply with. However, the path for accountants in industry appears to be simpler. My own experience is that accountants in industry can bypass difficult hurdles for qualification in public practice, and then work for unregulated finance as a service (FAAS) providers, effectively providing outsourced accounting services without scrutiny. Have other practitioners reported similar issues?
