As we enter the end of the peak SMSF annual return lodgement period, this is a great time to reflect on the collaboration you’re looking for with your auditor. An important element to consider is the audit turnaround time.
The expectation of audit service turnaround timeframes is a key part of the relationship. Finding an auditor who partners with you, and not just processes your work, is critical to managing these expectations.
A contractual committed turnaround timeframe provides clarity from the outset. That commitment must be consistently delivered throughout the year, and applies to the audit and query process. It is especially important during peak periods, when demand is highest.
The ability to escalate priority audits to meet your client deliverables is a key component in managing individual client deadlines. It’s important to know if your priority audits can be escalated when needed. This flexibility supports your service delivery when client demands intensify.
Turnaround timeframes are a core component of a partnership with your auditor but do not standalone.
Great turnaround timeframes without accuracy or effective responses are not helpful to you or the auditor.
A collaborative partnership is most effective when supported by:
► a relationship led service.
► an experienced SMSF auditor.
► leveraged and organised workflow system and resources.
This enables your team to structure choices on collaborating effectively with your auditor at the right time, supporting you to work at your best, and mitigating the volume and length of your peak work periods.
At Evolv, we partner with you to provide a relationship led service, leveraged by technology and a team of professionals. This includes:
► A contractual committed turnaround timeframe;
► The ability to respond timely in peak periods is part of the Evolv client service delivery commitment;
► Regular updates of turnaround times to enable your team to understand and plan for expected audit response times;
► An escalation process for priority funds to support your client commitments;
► Available reporting of individual fund audit turnaround timeframes helping to explain and address any anomalies;
► An audit and query process led by your client relationship manager supported by measured response times;
► Published monthly average audit response times; for 2025 financial year our peak period audit response average was 3.44 days and 1.26 days for audit query response to queries.
An effective collaboration within a relationship led audit service supported by a turnaround timeframe commitment delivers success for you and your clients.
If you would like to have a conversation about how turnaround times can support your business, please contact us.
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