The SMSF industry continues to face significant risks from legislative change and ATO rulings and enforcement. As SMSF auditors head into the auditing season, it’s timely to review developments concerning staff who do the work.
This session will:
- Describe ATO releases and focus areas
- Federal budget update
- Where are we on NALI?
- ATO stance on death benefits v member benefits
- Problems concerning valuations of properties and unlisted investments
- Describe how the revised ASA 315 Identifying and Assessing the Risks of Material Misstatement affects SMSFs
- Look at key audit risks (such as poor documentation) and responses, and
- Investigate how auditors run foul of ASIC.
