Access Super Audit director Vivian Bai tells Miranda Brownlee why adopting improved audit technology is negating the need for overseas outsourcing.
The decision to establish her own business first came, Vivian Bai says, when she was working as an accountant in SMSF administration. The accounting team she was part of worked purely off financial reports and had almost zero contact with clients.
“There were two things missing for me when I was employed; firstly I didn’t feel I was helping anyone or making any difference, and secondly my interest in SMSFs went beyond accounting,” she explains.
While she was still employed, she completed an RG146 course. She then resigned to set up Super Access Audit with the help of two of her previous colleagues.
A key focus for the business right from the beginning has been improving efficiency and creating a paperless, online-only audit firm.
“I designed my own audit program and I constantly improve it to minimise passive tasks,” says Ms Bai.
“My audit program also highlights riskier areas automatically based on the input of financials.”
The firm still works with accountants using paper-based filing systems, however, by using scanned copies of the documents to complete the audit.
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Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.