Three-yearly SMSF audits ‘problematic’ – Auditors worried about reality of ‘cost savings’, self-assessment and the details
In the May Federal Budget, the government made a number of superannuation announcements, including that compulsory audit cycle for SMSFs would be extended from one to three years (another was to raise the SMSF membership limit from 4 to 6). Treasury has released a ‘discussion paper’, which says that allowing SMSFs, with a good history of…