News : Auditing

ASIC, Auditing

ASIC bans SMSF auditor, acts on five others

ASIC action SMSF auditors

ASIC has taken action against six SMSF auditors after receiving referrals from the ATO to examine their level of compliance with legal obligations.

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Administration, Auditing

Audit and admin business rebrands

SMSF audit administration

Superannuation Advisors Australia has undergone a rebrand, with the organisation now operating as Seamless SMSF.

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Auditing

Annual return audit requirements may not last

Part A qualifications

A specialist auditor has suggested the new reporting requirements on the SMSF annual return regarding Part A qualifications from auditors may not be permanent.

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ATO, Auditing

Audit standards need to lift

Top 100 SMSF auditors

A specialist practitioner has called for improved professional standards from the auditing community, given the results of the ATO’s review of the top 100 SMSF auditors to date.

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Auditing, Regulation

SAN misuse needs harsh penalty

SMSF auditor numbers

Tax agents found to have deliberately misused SMSF auditor numbers should have suitably severe punishment handed down to them, a specialist auditor has said.

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Auditing

ATO list crucial for SAN integrity

ATO list SMSF auditor

The ATO’s move to send out lists of audited funds annually is an important step in helping auditors prevent further misuse of their SANs, an SMSF auditor says.

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ATO, Auditing

ATO auditor review finds need for improved education

ATO review auditors

More than two-thirds of the 51 auditors studied by the ATO so far as part of its review of the top 100 SMSF auditors required education, the regulator has said.

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Auditing, Financial Planning

Advisers key to auditor independence

Advisers key to auditor independence

Auditor independence is essential to fund compliance and should be prioritised by advisers on behalf of their SMSF clients, a legal expert says.

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ATO, Auditing

Auditor number misuse identified

SMSF auditor number

The ATO has now identified the more serious cases of SMSF auditor number abuse and has vowed to prosecute tax agents connected with them.

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Auditing

Evolv upgrades licensed audit platform

Evolv Super audit platform

SMSF audit firm Evolv Super has made key upgrades to its audit platform that focus on risk reduction and efficiency.

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