ATO could help on SMSF auditor information
The Institute of Chartered Accountants in Australia (ICAA) has indicated the Australian Taxation Office (ATO) could help the SMSF industry by identifying accountants undertaking SMSF audits.
ICAA superannuation specialist Liz Westover Liz Westover raised the usefulness of the ATO providing such data amid reporting around auditors failing to include some material in their audit reports.
She said assistance from the ATO in identifying those accountants auditing SMSFs would be useful in targeting education and resources to the sector.
"One of the key drivers of audit quality is the ability to target communication and education to those operating in the area," she said.
"With a list of those conducting SMSF audits, the Institute could assist in delivering relevant information to SMSF auditors in an efficient and effective manner, to help members in meeting their professional obligations," Westover said.
She said this would be in the best interests of the SMSF industry and the wider community.
AUTHOR
Staff Writer
Recommended for you
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
The ETF provider has flagged a number of developments as it formally enters the superannuation space through a major acquisition.
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.
Iress has appointed Insignia Financial’s former general manager of master trust and insurance products as its newest CEO of superannuation, who will take over from Paul Giles.
