SMSF Auditor Independence Standards – The Tough Decisions for Accounting Firms
In preparation for a tougher clamp down on SMSF Audit Independence Standards as of July 1, many accounting firms face a predicament. Under the updated code, those firms that offer both non assurance and SMSF audit services to their SMSF clients to decide to offer one, or the other. The independence standard also affects those […]
Looking to Build your Value and Extend your Reach? Stop Networking, Look to Your Community, Instead.
Networking! Remember that, when you’d work a room or meet new people face to face at trade shows? It’s a necessary evil for most business owners, account managers, service providers… As things increasingly open up across the country, making it easier to meet groups of new people, I feel it’s time for me to share this […]
6 Tips that Save Money or Spring New Business Growth.
Although the start to 2021 has been a little shaky, hopefully this year will be different to the last 12 months. If you haven’t already, take a look at six key ways in which you can reformat some areas of your financial services firm up to make 2021 your best year yet.
4 Industry Changes Financial Professionals Need to Know
A Market Update: Jan ’21 It’s already looking like 2021 is going to be another year of change and a dynamic time for our Industry. Although the pandemic seems to be relatively under control in Australia, unfortunately this is not the case for much of the World. At this stage, restrictions upon travel and the […]
Offshoring SMSF compliance work alternatives
Over the last decade outsourcing work offshore has been a trend in the Australian accounting landscape. Often one of the first areas an accounting practice will look to offshore is their SMSF compliance work. Although I don’t have an issue with offshoring in general as a business solution, for a number of reasons I believe […]
Bitcoin and cryptocurrency investment in an SMSF
SMSFs can invest in Bitcoin and other cryptocurrency investments including Ethereum, IOTA, Ripple, Dash, Litecoin, Monero and Cardano. The recent surge in the price of Bitcoin has many investors seriously looking at crypto-currency as a part of their SMSF investment portfolio. So, can an SMSF invest in Bitcoin and crypto-currency, and if so, what must […]
Does outsourcing put SMSF client data at risk?
Many financial advisers are engaging in offshore outsourcing, but there are smarter initiatives available that keep clients’ private financial data onshore while keeping jobs in Australia. We are seeing a surge in Australian financial services firms outsourcing a large proportion of its operations to offshore providers. While it may be legal, many clients are oblivious […]
How ‘zero touch’ SMSF Admin can help your business
Technology is quickly shaping the SMSF industry and is impacting all involved. Now, let’s not get caught up in all the hype around ‘Artificial Intelligence’ and ‘machines taking over jobs’ and really focus on the shift that is happening as we speak. Technology and data advancements are driving operational efficiencies and increasing the sophistication […]