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The failure of practitioners to adequately scrutinise documents associated with the purchase of commercial property by SMSFs is exposing clients to serious compliance breaches and penalties, an SMSF auditor has warned.
Speaking to SMSF Adviser, SuperAuditors director Shelley Banton said she has observed SMSF practitioners and auditors are being increasingly caught out with compliance issues where they are rushing the process of checking over the purchase contract of a commercial property sale and all other associated documentation, or failing to check the documentation at all.
Read the full story at SMSF Adviser.