Auditor Rotation: Strengthening Independence and Trust in Financial Reporting
Trust is the backbone of effective financial reporting—and auditor rotation is a critical safeguard in preserving that trust and boosting confidence. Businesses rely on audits to demonstrate financial integrity and performance, whether to shareholders, regulators, customers, or staff. But audits only build confidence when they are perceived as genuinely independent. By regularly rotating auditors, […]
Key SMSF Updates for the 2025 Financial Year
The 2025 financial year introduced key updates in the self-managed superannuation fund (SMSF) sector, affecting contribution caps, taxation, benefit payments, and regulatory compliance. SMSF trustees and financial professionals must stay informed to manage funds effectively and remain compliant with changing regulations. 1. Contribution Caps Overview Concessional Contributions (CC) Cap From 1 July 2024: Cap increased […]
ASIC’s 2025 Crackdown on Audit Quality and Independence Issues
ASIC’s 2025 Crackdown on Audit Quality and Independence Issues ASIC (Australian Securities and Investments Commission) is stepping up its game in 2025 with a targeted crackdown on audit quality and independence issues across Australia. This new surveillance review, announced by ASIC Commissioner Kate O’Rourke, zeroes in on auditors’ compliance with independence and conflict of interest […]
