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.
The expectation of audit service turnaround timeframes is a key part of the relationship
Finding an auditor who partners with you not just to process 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. 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.
An effective collaborative partnership is usually 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.
There are multiple service delivery offerings from auditors, and what you are looking for will tend to be associated with relationship, choice, structure and effectiveness for your business.
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;
► Regular updates of turnaround times to enable your team to understand and plan for expected audit response times;
► Published monthly average audit response times; For 2025 financial year our peak period audit response average was 3.4 days and 1.26 days for audit query response to queries.
► The ability to respond timely in peak periods is part of the Evolv client service delivery commitment.
► Available reporting of individual fund audit turnaround timeframes helping to explain and address any anomalies.
► An escalation process for priority funds to support your client commitments.
► An audit and query process led by your client relationship manager supported by measured response times.
An effective collaboration within a relationship led audit service supported by a turnaround timeframe commitment, provides the hygiene factors of success.
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