SMSF auditors will be able to save an electronic copy of any contravention report they lodge, creating their own historical record, as part of new ATO changes.

Practitioners will be required to use a new version of the SMSF independent auditor’s report for any audits performed on or after 1 July 2021.

Class has launched a facility to link SMSF accountants with third-party auditors to allow them to meet independence guidelines.

The efficiency of the year-end audit can be improved if SMSF accountants place more importance on one aspect of their interaction with a fund’s auditor.