We recently noticed a complaint from one of our accounting firm clients, that the SMSF auditors we were using (we switched to a panel of SMSF auditors) were making things difficult by asking for signed documents from the trustees, pieces of information to prove ownership and valuation, and generally just making the SMSF audit process a lot more difficult, in …
Australian SMSF auditors: including the extra Coronavirus Disease (COVID-19) Notification
With the longer term impact of COVID-19 as yet one of the unknowns, there has been recent news regarding disclosure requirements for SMSF trustees who have not yet completed their 2019 financial year accounts. We’ve seen some recommendations related to the need to disclose the pandemic as a significant event in the “Events subsequent to Balance Date”. Accountants should be …
The 7 top challenges in auditing SMSF’s over the next decade
With many recent developments in the SMSF area, it’s hard to take a step back and take a hard look at the future of the SMSF audit, and even the SMSF auditing profession as a whole. Certainly, there are some very close “in your face” issues that are at the forefront of SMSF auditors minds: Visits by the ATO, ASIC or …
