A move is underway to have APES 110 amended to include fee thresholds defining auditor independence threats.

Further guidance on the maximum number of referrals an audit firm can derive from one source is being formulated.

The ATO has recently taken serious compliance action against several SMSF auditors engaged in reciprocal arrangements.

A new agreement has been reached between two auditing organisations to provide a solution for compliance with the amended auditor independence standards.

The ATO’s audit fee dependency benchmark could give larger accounting firms an advantage over specialist SMSF audit firms.