Crypto status can create audit risk

Auditor portal updated, privacy warning issued

March 24, 2022

The ATO has updated its online portal for SMSF auditors and reminded them the information lodged falls under privacy laws.

read more

Auditing, Regulation

New audit clients draw caution

March 9, 2022

Entering into new client relationships as a result of the amended auditor independence standards needs a great degree of professional scrutiny.

read more

Valuation awareness left to auditors

February 22, 2022

SMSF trustees are not fully aware of new asset valuation guidelines and auditors are finding themselves having to educate them on the changes.

read more

ATO issues SAN misuse reminder

February 7, 2022

Practitioners have been reminded to submit their responses to the SMSF auditor number misuse mail-out performed by the ATO last September.

read more

More auditor interaction needed

January 19, 2022

Measures affecting SMSFs as a result of COVID-19 should encourage trustees to consult with their fund auditor more often.

read more

Trustees can take valuation lead

November 18, 2021

Trustees and accountants can play an active role in compiling sufficient property valuation information for an SMSF audit.

read more

Auditing, NALI/NALE

Discounts create NALE audit concern

November 17, 2021

SMSF auditors still need more information regarding discounted fees and are cautious about their treatment under the NALE provisions.

read more

Auditing, Investments

Home gold storage legal, but ill-advised

November 9, 2021

SMSF trustees can store investment gold in their own home, but auditors are questioning the existence of the asset and wisdom behind that plan.

read more

Auditing, NALI/NALE

Auditors considering NALE protections

November 8, 2021