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SMSF: Streamlining the audit process

SMSF: Streamlining the audit process

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With just two weeks remaining until the financial year wraps up, getting an SMSF ready for tax time involves ensuring there is a smooth audit process.

In this episode of the SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn are joined by well-known industry auditor Deanne Firth, director of Tactical Super.

Firth offers some valuable insights and timely reminders for SMSF trustees and auditors to prioritise compliance and leverage available resources to streamline their processes.

Listen as they discuss:

  • Obtaining the necessary evidence for valuations, especially concerning private and unlisted companies.
  • The timing of audits and the importance of proactive engagement with clients.
  • The challenges with valuing unlisted assets, particularly private companies with unique business models.
  • The complexities of SMSFs investing in start-up ventures.
  • Loans within SMSFs.
  • Technology and AI in the SMSF sector.

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