The proposed three-year audit cycle

The proposed three-year audit cycle

The proposal at first glance appears fairly attractive to trustees, advisers and the superannuation sector in general. However, when analysed within the scope of audit engagements, the move is fraught with danger and could become an administrative nightmare. The...

Adding tax effect accounting to your arsenal

 As you would be aware, trustees of SMSFs are required to prepare financial statements in accordance with the accounting policies as per the requirements of the SIS Act 1993 and SIS Regulations 1994.There is no requirement for an SMSF to comply with the Australian...