by Shelley Banton | Sep 9, 2019 | SMSF Litigation
How many times have we heard that it’s only an SMSF audit; there’s not much in the fund, or it’s not high-risk? For some reason, the perception still exists that an SMSF is more straightforward to audit than any other entity. Interestingly, the auditing standards that...
by Shelley Banton | Jul 29, 2019 | Audit Standards, SMSF Audit, SMSF Auditors
SMSF auditors are the last link in a long superannuation chain before the annual return gets lodged. And when things go wrong, SMSF auditors can often be an easy target to blame. But not everything is as simple as it seems because it’s the auditing standards and SIS...
by Shelley Banton | Jun 24, 2019 | Contributions
Typically, SMSF contributions aren’t counted until the payment is received in the fund’s bank account. The problems start, however, when June 30 falls on a weekend or Monday as this provides minimal scope for contributions to be accepted at the last minute. The...
by Shelley Banton | Apr 15, 2019 | Related Party
Trying to identify related party transactions in an SMSF can seem like pulling apart a set of Russian dolls: the first entity links to another entity, which, in turn, has another entity inside of it, and so on. The question is how far do you continue searching to...
by Shelley Banton | Mar 24, 2019 | Audit Independence, SMSF Audit, SMSF Audit Independence
ASIC recently announced that seven (7) SMSF auditors with independence issues were either deregistered or had a condition placed on their registration. It’s beyond belief that SMSF auditors continue to be pinged by the Regulator for auditing their own, or a...
