The ATO has advised SMSF accounting firms they should not complete audits for a fund where they also provided oversight and advice to the trustees of the fund.

A specialist professional body for auditors has argued against the introduction of a hard fee threshold in an effort to make the auditor independence standards more robust.

Four specialist SMSF audit firms have lodged a joint submission to the Accounting Professional & Ethical Standards Board challenging its proposed auditor independence fee threshold.