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What’s next for SMSF audit technology?

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15 October 2018 — 1 minute read

Promoted by Cloudoffis.

Audit software for SMSFs is finally catching up with the technology available. What took the industry so long? Well it’s hard to say. Cloudoffis reports that while a lot had been done in automation in the industry, it was yet to be made available in a integrated, usable and streamlined service that would save its users hours....until now.

Cloudoffis has not only embraced new technology and artificial intelligence, it sees a bright future for SMSF auditing software development. Manual, monotonous and time-consuming tasks have been practically eliminated thanks to Cloudoffis’ sophisticated approach to removing much of the human-error from the auditing process.

The time saving potential this intelligent, cloud-based software offers is an industry disrupter. Cloudoffis projects these advancements will save auditors upwards of 40-50% time per audit, and what’s particularly exciting is that these benefits are being directly passed onto users.

The cost of compliance just became a whole lot more affordable.

Some of the features Cloudoffis software is bringing into the market include:

  • Integration of information, reporting and source documentation with Class, BGL, MYOB, ASIC and more.
  • Automated audit observations for much better presentation of data and information
  • Optical Character Recognition (OCR) and document management to enable click-of-a-button in-document searching
  • Data analysis to define scope of work before audit even begins
  • Advanced search function
  • Automatic referencing and tagging of documents

Cloudoffis has been able to develop these time-saving, efficiency increasing tools and methods from identifying and understanding the problems that face the SMSF industry. With recent changes to federal superannuation fund law and changes in the Australian taxation system, Cloudoffis saw this not as a hindrance but as an opportunity to revolutionise the way auditing is done and forever improve the way the industry looks at compliance.

This software is ground-breaking in the way it saves auditors from wasting time in duplicate work, monotonous tasks and compliance concerns.

The future is bright for Cloudoffis and the SMSF audit software industry at large. They are projected to include in the next release of their software many new exciting features including: an ABN and Superfund lookup function; new automated audit observations; enhanced reporting and audit review tools; a new Fund Dashboard to enhance the user experience.

Cloudoffis invites the SMSF industry to explore the possibilities of saving time, money and sanity by utilising their new cloud-based, auditing software: endless benefits are guaranteed, including an enhanced bottom line!

Attend the next live webinar to see it for yourself.



What’s next for SMSF audit technology?
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