Financial Services Archive

Catfishing Exposed – SMSF Auditor Number Fraud

Mis-use of Auditor Numbers

Over 600 tax practitioners have either deliberately or mistakenly mis-used an SMSF auditor number, with the ATO detecting over a thousand instances of potential fraud.

“Some practitioners...

Crowd Sourced Funding: A Potential Nightmare for Banks

Having to go ‘cap in hand’ to banks for money is quickly becoming a thing of the past for many small and medium sized business owners looking to grow...

new-year-ahead-sign

EOFY reporting under STP – why it is easier

This end of financial year is the first under Single Touch Payroll (STP) for many of your clients. The most significant and time-saving benefit of reporting information via STP...

How Can You Balance Audit Quality and Financial Outcomes?

Audit quality concerns continue to attract headlines around the world despite the ongoing efforts of international review bodies to address issues relating to conflict of interest and lack of...

What happens when a SMSF member dies?

Dealing with the death of a SMSF member is inevitable and often a complicated process. It’s crucial that the situation is dealt with in a practical and professional manner....

From Accountant to Internal Auditor – Opportunity for Growth

Internal audit and compliance audit are both very essential functions in any organisation. In recent years, both services have risen in importance, signifying critical control components of an organisation’s...

Crowd Sourced Funding: Knowledge is the Key

The former Chairman of Greencross Limited and Accountancy Industry Consultant, Andrew Geddes, believes Australia’s accountants and business advisors are not doing enough to stay abreast of new financial developments...

“What sank the titanic?…” the top of the iceberg or the bottom!”

…asks Peter Hickey, President of the Institute of Business Advisors & CEO of MAUS. “What concerns me is that so many people are starting or building a Business Advisory...

Class provides detailed analysis of newly established SMSFs – March 2019 SMSF Benchmark Report

6 May 2019 – Class has released its SMSF Benchmark Report for March 2019. This quarter’s special feature casts a spotlight on the characteristics and trends of newly established SMSFs,...

Crowd Sourced Funding Equity Raising Report Card

The other day I was speaking to an accountant that I met at a conference a few years ago and he asked me what I had been working on...

Communicative Auditors Add Value

The value of a call from Saul

Recent court decisions highlight situations where the Auditor did not seek sufficient and appropriate evidence that the assets and liabilities of the fund...

12 STEPS TO SUCCESSFUL SME CAPITAL RAISING

By now you will probably have heard about Crowd Sourced Funding Equity Raising (CSF) and just how powerful an option it is for your small and medium sized...

Should the audit client be accepted?

When accepting a new audit engagement, you may encounter the following risks:

  1. you’ll make a mistake;
  2. key issues will be overlooked;
  3. the client will question the value of the service; or

Progress of bills pre-Budget

In our latest Banter Blog, with limited sitting days ahead of the Federal Budget on 2 April 2019 and the expected Federal election in May 2018, we summarise the...

As with most things, complex SMSFs cost more to run

No two SMSFs are the same, so what’s with low-cost, flat-fee bundling?

The ATO and ASIC have been monitoring the practices of Auditors and are closely watching bundled packages and...

16 Step Guide to Crowd Sourced Funding Equity Raising

Crowd Sourced Funding Equity Raising represents the biggest change in small business and medium sized business financing arrangements in Australia over the last 35 years!

We have produced a “16...

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