Triennial audit risks industry contraction

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>>          

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ATO cracking down on ‘reciprocal audits’

Early in August, the ATO Assistant Commissioner Kasey Macfarlane again raised the issue of auditor independence. In particular the issue of reciprocal auditors - the situation where 2 auditors with their own funds agreed to audit each other’s SMSFs, or where 2 partner firms have ‘Chinese walls’. In our opinion, this [...]