Property value risks flagged with audit measure eligibility

SMSFs with property should not be eligible for three-year audits as this could lead to the manipulation of financials and incorrect valuations being carried over multiple years, warns a mid-tier firm.

Last week, Treasury released a consultation paper on the proposed three-year audit cycle which provided further detail on the eligibility criteria and transitional arrangements.

Read the full article at SMSF Adviser.

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