Preview of Chapter 1: An existential challenge - accountants vs administrators
SMSF accountants are facing an unprecedented challenge to modernise their workflow and transform their businesses.
The compliance workload around SMSFs continues to increase as the ATO and the federal government seek to keep control and transparency in the fast growing SMSF sector. Reporting timelines are reducing and the ATO has made it clear it wants to move to more timely event based reporting on SMSFs. This is a huge, disruptive change from annual reporting that will challenge even the most sophisticated accounting practice.