SMSF
Auditors warned on independence threats with partners of client firms
Auditors who are auditing funds for the partners of an SMSF firm as well as their clients have been warned there may be intimidation or self-interest threats which will n...
Proposed super measures could lead to ‘unacceptable’ NALI breaches
A major accounting body has warned about the interaction between the government’s proposed measures around third-party payments by super funds and the non-arm’s lengt...
Pooling arrangements ‘no holy grail’ for auditor independence
SMSF firms planning to enter pooled auditing arrangements have been warned that these arrangements, particularly larger ones, may be considered to be a network, exposing ...
ATO provides update on timeline for auditor independence guidance
The ATO plans to publish detailed guidance on the independence standards impacting in-house audits and its compliance approach in March, in lieu of writing to audit firms...
Scaled and limited advice hampered by ‘confidence issue’
The environment experienced by advisers in recent years including the royal commission, additional codes and standards and requirements imposed by licensees and insurers ...
‘Consistent approach’ critical to reforming SMSF advice model
With the government set to review some of the regulations around strategic advice for SMSFs, a technical expert says any new advice model in this area must ensure a “co...
6-member SMSFs still sparking client interest
Just over half of SMSF professionals in a recent straw poll have stated that at least some of their clients are considering adding additional members to their fund, provi...
Firms warned against delaying audit decisions for ATO letter
SMSF firms holding off on making business decisions regarding the auditor independence standards until they receive the ATO’s letter have been warned they could be caug...
ASIC commences proceedings against SMSF fintech firm
The corporate regulator has commenced civil penalty proceedings against Squirrel Superannuation Services over allegations it made false or misleading representations rega...
Government looks to modernise SMSF record keeping
As part of a consultation, the government is exploring whether certain restrictions under the SIS Act which prevent electronic signatures and records being retained in ...
