Did you know there can be as many as a dozen pieces of information an Auditor can ask to review as part of a school’s P&C audit process? We break it down.
As auditors, we understand that treasurers are volunteers and are doing their best in an often demanding role. The fear is that auditors are judging the treasurer’s work and giving them a scorecard, which proper prep and methodology will make all the easier.
Shelley Porter took the unusual step of finishing university and plunging headfirst into an audit career. At the time, her first employer, KPMG in Darwin, saw something that the agribusiness graduate was yet to appreciate – a keen eye for detail.
What SMSFs absolutely need to consider before 30 June.
If you have assets such as real estate in your SMSF, and to an extent other assets such as collectables, and artwork, you will need to have a current valuation of those assets by 30 June.
Asset valuation is a key component in preparing meaningful SMSF financial reports. It has an impact on the returns for members and ultimately, SMSF sector performance as a whole.
Third party collection for P&Cs has been enabled by the Department of Education and Training (DET) in the latest update to the Accounting Manual
The ATO has deferred the due date for lodgment of SMSF annual tax returns for the 2015-16 financial year. The new deadline for lodgement of these returns is now postponed to 30 June 2017.
The government will introduce a Low Income Superannuation Tax Offset (LISTO), which will replace the Low Income Superannuation Contribution (LISC) policy that has been repealed from 1 July 2017. LISTO…