Organisational change is never easy but it can bring outstanding benefits. Daria Galstyan CA, Associate Director – Audit at Evolv, looks at how accounting and advisory firms can manage the changes required for SMSF audit independence. Moving to an independent SMSF auditor is a process that calls for planning – [...]
What does it take to move to an independent SMSF audit service? Surprisingly little when you partner with the right auditor. Muhammad Khalid, SMSF Audit Manager at independent SMSF audit specialist Evolv, explains just how easy it can be to transition to an external SMSF auditor. “At Evolv, we understand that [...]
APES 305 gives accounting practices a compliance framework to implement SMSF audit independence ahead of 1 July 2021. Daria Galstyan CA, Associate Director – Audit at Evolv, points out that the disclosure requirements of APES 305 are based on materiality. If a firm uses another firm’s services to a material degree, this [...]
There’s a lot riding on your choice of SMSF auditor, and like any long-term relationship, it pays to get it right the first time. As accounting and advisory firms seek independent SMSF auditors ahead of 1 July, it pays to narrow down the choice by knowing what to look for. [...]
As the deadline for SMSF audit independence approaches, accountants need to be mindful when selecting an SMSF auditor with the resources, processes and experience to conduct timely and efficient audits. A smooth audit is a good audit. It delivers a win-win for both accounting and advisory firms and SMSF trustees, [...]
Does your SMSF auditor have the capacity to take on more audits? We look at why scale matters when it comes to meeting SMSF audit independence requirements. As accounting firms race to meet the 1 July deadline for SMSF audit independence, many will be seeking to form new relationships with [...]
Ron Phipps-Ellis, founder and CEO of SMSF audit specialists Evolv, explains the firm’s cost-effective approach to auditing data fed transactions. Data feeds not only have the potential to streamline the audit process, they also pave the way for automation, making the audit more efficient and more cost-effective for the client. [...]
As the clock ticks towards 1 July 2021, Evolv Super’s flexible suite of products is helping firms plan ahead to meet strict SMSF audit independence requirements. With just nine months remaining before the new financial year, thousands of accounting firms across Australia need to act fast to review their approach [...]
Many self managed super fund (SMSF) trustees have been breathing a sigh of rental relief after the ATO announced that changes could be made to commercial property agreements due to the financial fallout of the Covid-19 crisis. One of the unique benefits of an SMSF is that property owned by the [...]
As recent court cases against SMSF auditors have shown, simple mistakes from the past can have massive implications. Our industry needs to improve.