AUASB

  • SMSF compliance - balancing automation with price pressures

    Managing compliance requirements with the rise of automation and price pressures can be a serious balancing act for SMSF auditors.

    As auditors experience the pressure to reduce their audit fees to meet with a competitive market, there is an increased pressure from the ATO and the Australian Auditing Standards to maintain the same high level of integrity and quality. This pressure is a challenge for auditors who are already under pressure to master & comply with new technologies.

    SMSF accountants and administrators are embracing the cloud-based technology integration of electronic data feeds, which provides more efficient ways to gather and share real-time data. These real-time feeds provide valuable information about fund information as it happens.

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