On Wednesday, 4 August 2021, AuditCover hosted The State of Tax Audits in Australia [Part 1] to explore the ATO’s renewed focus on debt recovery and its vast data reach and capabilities. The event covered; ATO’s Data ingestion capacity and what it means for...
Financial Services
Financial advice including wealth creation, insurance and lending services
Top 10 Budget Takeaways
by Daniel Wyner | May 14, 2018 | Featured Articles, Financial Services
Apart from the promised phased personal income tax cuts and the "overhaul" of the R&D tax incentive, the 2018 Federal Budget did not contain many measures that resembled significant tax reform. This may be the last budget before next federal election and major tax...
3 Year Audit Cycle Misses the Point
by David Saul | May 13, 2018 | Financial Services
The 2018 Federal Budget announcement proposed that the SMSF audit cycle be extended to three years for funds with good compliance history, starting from 1 July 2019. Is that crazy? Mixed messages On the one hand, the government is making a noise about SMSF compliance,...
The 2018 CAANZ Audit Conference – Panel Discussion
by Lyn Pollock | May 6, 2018 | Financial Services
Data, artificial intelligence and machine learning – what’s next for the external audit? CaseWare Australia & New Zealand CEO, Craig Waldon (middle), was part of the panel at the 2018 CAANZ Audit Conference CaseWare Australia & New Zealand proudly joined the...
Keeping it clean
by Charlotte Gell | May 2, 2018 | Financial Services
Money laundering is big business, with an estimated $15 billion laundered annually in Australia. When coupled with the impression of respectability, legitimacy and credibility, the gatekeeper role played by accountants makes them prime targets for money launderers....
Blockchain – How tax can build a network of trust
by Rod Spicer | May 2, 2018 | Financial Services
When it made Gartner’s Hype Cycle for the Emerging Technologies List in 2017, some said we’d reached peak-blockchain. Gartner predicted that the technology was still 10 years away from going mainstream but if the recent crypto-currency craze is anything to go by, we...
The ATO and Robo-advice
by Chris Brycki | Mar 8, 2018 | Financial Services
The ATO recently issued a statement about accountants referring clients to robo advice businesses. It has since removed the statement from its website likely because it crossed into an area of advice regulation beyond its remit. Despite the overstep it’s an area...