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The government’s proposal to introduce a three-year audit cycle for some SMSFs has been roundly slammed by key professional bodies within the accounting industry, heaping more pressure on policymakers to scrap the contentious plans.
In submissions seen by Accountants Daily, Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia, the Institute of Public Accountants (IPA), and the Tax Institute have all told the government that its three-year audit proposal would not meet its intended policy objectives.
Read the full article at Accountants Daily.