The SMSF industry continues to face significant risks from legislative changes, ATO rulings and the pandemic’s effects on compliance. There have been numerous developments since our June update. It’s timely to examine those relevant to SMSF auditors and auditing staff so that risks are identified and appropriate actions may be taken.
The session will look at such issues as:
- SuperStream – What’s happening in practice, what does the ATO want, and how does a windup affect rollovers?
- E-Signatures – You might be surprised to learn what SMSF documents you can and can’t sign electronically
- Related-party lease agreements – How a lapsed lease can quickly turn business real property into an in-house asset
- NALI update – What will auditors expect this year?
- Overpaid present entitlements – Is this an audit issue of concern?
- Trustee requirements for six members funds – Are you setting your SMSFs up correctly?
- ASIC rules for when a director resigns (and how the fund may no longer meet s17A SIS)
- Market valuations – The latest from the ATO, and
- Auditors running foul of ASIC.
