SMSF Audit Revolution

Take a look at our managing director Ron Phipps-Ellis’ article in this month’s Self Managed Super Magazine. Ron talks about how technological innovation is creating the SMSF audit revolution, how SMSF Audits are performed and the value they may add in the future. Trustees of SMSFs appoint an Australian Securities and Investments Commission registered auditor, who they usually have never met, to express an opinion on the transactions of the fund by signing both part A and B of the audit report. They must also accept the auditor’s findings when contravention reports are lodged with the ATO. It is interesting that there is no single audit standard applicable to SMSFs, which means auditors must use their judgment in applying all relevant international auditing standards. Read More >>