As the deadline for SMSF audit independence approaches, accountants need to be mindful when selecting an SMSF auditor with the resources, processes and experience to conduct timely and efficient audits. A smooth audit is a good audit. It delivers a win-win for both accounting and advisory firms and SMSF trustees, [...]
Does your SMSF auditor have the capacity to take on more audits? We look at why scale matters when it comes to meeting SMSF audit independence requirements. As accounting firms race to meet the 1 July deadline for SMSF audit independence, many will be seeking to form new relationships with [...]
Ron Phipps-Ellis, founder and CEO of SMSF audit specialists Evolv, explains the firm’s cost-effective approach to auditing data fed transactions. Data feeds not only have the potential to streamline the audit process, they also pave the way for automation, making the audit more efficient and more cost-effective for the client. [...]
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 [...]
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>>