POWERED BY MOMENTUM MEDIA
Tool created to help accountants find SMSF auditors
Wealth accounting firm Class Ltd has launched an online tool to help accountants find auditors for self-managed super funds (SMSFs).
As a result of amended legislation, SMSF audits now needed to be conducted by an independent auditor, meaning accounting and auditing could no longer be offered by the same firm to the same client.
This could lead to as many as 40% of SMSFs searching for a new auditor, estimated to be around 200,000.
The Class tool would allow accountants to request quotes from multiple providers that connected directly to the Class product suite, including some of the largest SMSF audit companies in Australia.
Class had partnered at launch with Super Know How, Unison and BDO Audits.
Class chief executive, Andrew Russell, said: “The enhancement of the auditor independence requirements will see a significant movement in the SMSF audit market, so we have provided a facility that allows an accounting business to find an audit provider that operates on an integrated technology platform.
“It will allow accounting practices to make the decision to work with an audit partner based on automation through technology integrations, in addition to other factors such as price and agreed service levels.”
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
Cbus has swiftly promoted Leigh Gavin to chief investment officer only months after naming him deputy, as the fund works towards growing in size and bringing its investment expertise in-house.
Bravura CEO Andrew Russell has announced he will be stepping down from the company, just under two years after his appointment.
The $16 billion fund has teamed up with a retirement income product specialist to give its members more confidence to spend in retirement.
The super fund-owned institutional investment manager has appointed an internal candidate as its next head of operations.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
