Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREKPMG finds defects in cost promises for proposed audit cycle
Big four firm KPMG has found SMSFs eligible for the proposed three-year audit cycle may not in fact see a reduction in cost or administration, and in some cases, may exacerbate the amount a client has to fork out if they face compliance issues.
KPMG finds a significant contributor to the efficiency of running and auditing an SMSF includes trustees producing information to support the annual audit requirements. The new regime, which would only mandate an audit once every three years for SMSFs with a sound compliance record, works to the detriment of this process.
Read the full article at SMSF Adviser.
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