News : Auditing

Auditing, Superannuation

Class launches auditor matching tool

SMSF accountants auditors

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

read more
Auditing, Superannuation

Better audit efficiency achievable

accountants audit

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.

read more
ATO, Auditing

ATO releases new valuation guidelines

SMSF asset valuation

The ATO has updated its SMSF asset valuation guidelines, but has reminded trustees and auditors of the need to have accurate information.

read more
ATO, Auditing

Figures show SAN misuse not rife

SAN misuse ATO

SMSF auditor number misuse remains an area of concern, but ATO figures indicate it is not a widespread problem.

read more
ASIC, Auditing

Auditor disqualified for independence breach

SMSF auditor disqualified

ASIC has disqualified the SMSF auditor registration of a Sydney-based practitioner who was found to be lacking independence and failed to obtain evidence when required to do so.

read more
ATO, Auditing

Audit compliance to be enforced

auditor report compliance

The ATO will be enforcing compliance in the new financial year as changes to the SMSF independent auditor report (IAR) will take effect.

read more
Auditing

Limits to sources of audit fees defined

Independence audit fees

The level of SMSF audit fees from a single source that will be considered a threat to independence has been spelt out by the APESB.

read more
Auditing

Audit checklist a competence measure

auditor client checklist

An indicative measure for accounting firms as to whether the right SMSF auditor has been appointed is if the practice is provided with a client checklist.

read more
Auditing, Superannuation

Price of audits expected to rise

SMSF audits price

Practitioners have indicated they believe SMSF audit prices will increase after 1 July due to the amendments to APES 110.

read more
Auditing, Contributions

Auditors must vet downsizer contributions

auditors downsizer contributions

Auditors should examine downsizer contributions to ensure they are made correctly, with the ATO issuing guidance about what will trigger a contravention report.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.