As the clock ticks towards 1 July 2021, Evolv Super’s flexible suite of products is helping firms plan ahead to meet strict SMSF audit independence requirements. With just nine months remaining before the new financial year, thousands of accounting firms across Australia need to act fast to review their approach [...]
Many self managed super fund (SMSF) trustees have been breathing a sigh of rental relief after the ATO announced that changes could be made to commercial property agreements due to the financial fallout of the Covid-19 crisis. One of the unique benefits of an SMSF is that property owned by the [...]
Cheap audits are increasingly hard to find - and don't necessarily offer quality insight. Here's why focusing on advanced auditing ROI is a better strategy.
Data feeds are now central to automated transaction checks in SMSF audit cycles. But how reliable are they and are they that important?
As recent court cases against SMSF auditors have shown, simple mistakes from the past can have massive implications. Our industry needs to improve.
The Australian Taxation Authority is missing an opportunity to provide proper oversight of the annual audit process for Self-Managed Super Funds. Read on to find out how eSATs can improve SMSF auditor performance.
The SMSF audit industry could witness increased contraction and consolidation should the triennial audit cycle policy proposal be legislated. Evolv's Ron Phipps-Ellis discusses this issue in a recent article published by Self Managed Super Magazine. To view the article, please click here>>
One of the most topical issues continuing to be debated in the SMSF sector would be the proposed three-yearly SMSF audit cycle. To address the proposed changes we undertook an extensive survey of participants in the industry covering the perspectives of auditors, accountants, administrators and trustees. We also received a [...]
Ron Phipps-Ellis, director of Evolv talks about the SMSF auditor registrations crackdown by corporate regulators, this may be occurring due to various factors largely based on complexities in the sector Read more here>>
LET'S TAKE ACTION TOGETHER The recent 2018 Federal Budget announcements interestingly included a section on triennial SMSF audits. From 1 July 2019, SMSFs with a history of ‘good record-keeping and compliance’ will only need to have their financial statements audited every 3 years. The SMSF industry is a $900B sector [...]