News

Education, SMSF, Superannuation

Call for SMSF ‘nudge’ in DBFO package

The peak SMSF body has called on the government to extend the member ‘nudge’ rules beyond industry and retail super funds.

The peak SMSF body has called on the government to extend the member ‘nudge’ rules beyond industry and retail super funds.

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Auditing, Investments

Good returns should not prevent ACR

Assets that lack a market valuation may still be good investments for an SMSF, but auditors are still required to flag them via an ACR.

Assets that lack a market valuation may still be good investments for an SMSF, but auditors are still required to flag them via an ACR.

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financial advice, Financial Planning, SMSF

Advice-related complaints surge

Complaints to AFCA regarding investments and advice jumped in the last financial year, with a significant number relating to the use of SMSFs.

Complaints to AFCA regarding investments and advice jumped in the last financial year, with a significant number relating to the use of SMSFs.

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ASIC, Compliance, financial advice, Financial Planning

ASIC bans UGC, Shield-linked adviser

An adviser who was licensed to two firms offering risky investments and using SMSFs to access them has been banned for seven years.

An adviser who was licensed to two firms offering risky investments and using SMSFs to access them has been banned for seven years.

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Administration, Compliance, Legislation, Regulation

ATO reveals common admin errors

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

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Appointments, SMSFA

SMSF Association boosts tech team

The SMSF Association has bolstered its technical team with a new appointment to assist members through the current period of change and reform.

The SMSF Association has bolstered its technical team with a new appointment to assist members through the current period of change and reform.

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Auditing, Compliance, Documentation, Legislation, Regulation

Flag deed chain problems in audit

Auditor obligations to ensure a deed is executed correctly should extend to checking it remains compliant if old or amended.

Auditor obligations to ensure a deed is executed correctly should extend to checking it remains compliant if old or amended.

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ASIC, Compliance, Investments, Legislation

Seventh Shield-linked adviser banned

A financial adviser from a licensee that has had six practitioners banned has met the same fate over advice to invest in the Shield Master Fund.

A financial adviser from a licensee that has had six practitioners banned has met the same fate over advice to invest in the Shield Master Fund.

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Auditing, Compliance

Don’t avoid review recommendation

SMSF auditors should take seriously the recommendation to review client files where a large part of their referrals come from a single source.

SMSF auditors should take seriously the recommendation to review client files where a large part of their referrals come from a single source.

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Auditing, Insurance

Auditor PI should cover all action

Auditors should check if their PI insurance covers legal action from both clients and regulators as some policies limit their claims.

Auditors should check if their PI insurance covers legal action from both clients and regulators as some policies limit their claims.

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