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READ MOREFresh litigation prompts SMSF auditors to consider protections
With a second litigation case holding an SMSF auditor liable for failed investments, one audit firm says SMSF auditors should ensure they qualify their audit reports where it’s difficult to ascertain values.
Two different court cases have held SMSF auditors responsible for investment losses in recent months. The first case, Cam & Bear Pty Ltd v McGoldrick, was a decision by the NSW Court of Appeal, which ruled that the auditor was negligent in failing to make proper enquiries as to the recoverability of certain investments held in the fund and report back to the trustee.
Read the full article at SMSF Adviser.
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