The Tyranny of Distance, or Not
I have a colleague who says “Australia is a small country”. “Geographically large, but in terms of numbers a small population.” Then there is the smaller population of accountants who are often connected across great distances.
What is special about Australia is the extent to which our people move around, either to study, or work, to retire, or just on holiday. It seems the concept of outsourcing or insourcing within and outside Australia has been embraced.
So I thought I would set myself the challenge of covering all of Australia with my SMSF Audit Service, where audit information can be efficiently communicated using the best of available technology!! At SaulSMSF we call this RELLIANCE!
Earlier this year we achieved some wins in the far west and it seemed Broome was the winner. I am now thrilled to say that we now have received SMSF work from Christmas Island to Norfolk Island.
Certainly the geographic spread of Australia makes it ideal for outsourced work. In my case outsourced within Australia.
There are still some that believe it is not possible to properly analyse information in electronic form so as to determine compliance with the SIS Act. It is an adjustment, but advances in technology are changing our world very rapidly. It’s also comforting to know that we can deliver a quality service offering to accountants anywhere in Australia.
Here are some asset checks that can be conducted via an electronic process:
- That assets of the fund exist
- Confirmation from financial institutions
- Real estate title searches
- Market valuations, and
- That assets are producing income on an arms-length basis
Efficiency, quality and great service are fundamental to SaulSMSF. It is so important to protect the Trustees and members of SMSFs, after all …. we are ultimately talking about their retirement savings.
© David Saul – Saul SMSF
David was among the first professionals to be accredited through SPAA as an SMSF Specialist Advisor™. He is also a Chartered Accountant and holds a Bachelor of Financial Administration from the University of New England, Armidale NSW.
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