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...
by Shelley Banton | Feb 18, 2019 | Market Valuation, SMSF Compliance, SMSF Litigation
Two recent cases[1] involving SMSF auditors have focused industry attention on the obligation of SMSF auditors to verify assets valued at market value. The headaches start, however, when a fund invests in unlisted assets, such as unlisted companies and trusts. The...
by Shelley Banton | Feb 4, 2019 | ASF Audits
We are proud to announce that ASF Audits has acquired Melbourne-based specialist SMSF auditing firm, Nest Super as we expand our business in Australia. Nest Super director Casey McGrath has joined the ASF Audits board. ASF Audits managing director Richard Smith said...
by Shelley Banton | Dec 2, 2018 | Pensions
There’s no doubt the new rules and regulations associated with Super Reform are confusing. We are now seeing new issues starting to emerge that will have adverse tax consequences for unsuspecting SMSFs. This is a timely reminder to help SMSF advisers avoid potential...
by Shelley Banton | Oct 29, 2018 | SMSF Litigation
One of the most critical aspects of the Ryan Wealth Holdings Pty Ltd vs Baumgartner [2018] NSWSC 1502 case was the auditor failing to confirm that the fund’s investment strategy had given appropriate consideration to risk, return, liquidity and diversification and...
