Business News

Class Super adds audit feature

Specialist SMSF administration software provider Class Super has added an audit application to its offering.

The new SMSF audit feature has been provided by specialist cloud accounting software developer Auditflow Publishing and comes in the form of its flagship product, Auditflow.

The addition of the Auditflow facility will enable data and document transfers between it and Class Super that will in turn increase the speed and efficiency of SMSF audits.

Fund trial balances and audit lead sheets are examples of the documents that will now have the ability to be automatically populated, eliminating the need for manual data entry.

“The Auditflow add-on to Class Super provides accountants and auditors with a complete solution for SMSF administration, engagement and compliance,” Class Super chief executive Kevin Bungard said.

“By enabling better collaboration between administrators and auditors, the add-on will make SMSF management more efficient. The automatic population of audit files will also help reduce compliance risk.”

The development would make it easier and faster for SMSF administrators and auditors to work in unison, Auditflow chief executive Richard Neal said.

“Auditflow and Class are both established market leaders in their space,” Neal said.

“We’re delighted to deliver a solution that enables everyone connected to SMSF management to collaborate and work seamlessly.

“In an industry that now has over 530,000 active SMSFs and continues to experience healthy year-on-year growth, it’s a significant opportunity for administrators and auditors to enhance their services.”

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