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KPMG finds defects in cost promises for proposed audit cycle

KPMG 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.

by Shared by SMSF Adviser | Sep 3, 2018

KPMG faces class action over ’misleading’ advice

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.