Get insights from SMSF audit partner and SMSF expert, Chris Levy, for an ‘at the coal face’ overview of recent, significant changes to ATO and ASIC regulations and guidelines.
There are still many scenarios where SuperStream is causing major headaches for SMSF professionals, including failed transactions and money getting lost in the system.
SMSF auditor, Chris Levy, outlines the major ‘bugbears’ with stricter valuation requirements, prompting some difficult conversations - particularly where the SMSF holds commercial property or more unusual investments.
With additional requirements and delays in work being sent to auditors, it’s expected that there will be a “tsunami of work” hitting SMSF professionals and auditors in the weeks leading up to the SMSF lodgement deadline.
While the SMSF industry has gone through outbreaks of COVID several times before and now has better IT infrastructure and processes in place, the latest wave of COVID is having a substantial impact on SMSF audits and the profession generally.
