In a budget announcement, the government has revealed plans to change the annual audit requirement to a three-yearly requirement where SMSFs have a good history of good record keeping and compliance.
Read the full article at SMSF Adviser.
Three-year SMSF audit cycle to spur ‘practical hurdles’
The government’s plan to change the annual audit requirement to a three-yearly cycle for SMSFs with a good history may lead to seasonal swings in workflow for audit firms and could magnify risks for practitioners and trustees, industry experts have warned.
