ATO puts SMSF auditors on notice over missing audit files
What happened
"It supports your conclusions across several Superannuation Industry (Supervision) Act 1993 (SISA) requirements and underpins the independent auditor's report," it said. "Trustees or directors of the corporate trustee must sign and date the TRL before you complete the audit. This matters for Professional Services & HR because contracting activity changes leverage, market appetite, and which clauses buyers can credibly trade with 1993, 580, 3100 as the clearest commercial anchors; Rate caps is now more valuable
Buyer takeaway
For Professional Services & HR, the buyer read-through is commercial leverage: scope, validity windows, reopeners, and term structure may now matter as much as headline pricing
Cost / money
The money issue may come through term structure rather than base price alone, especially if suppliers push for escalation language, shorter validity, or broader pass-through
Supplier / commercial
This is primarily a contracting story: revisit scope boundaries, extension mechanics, and which party carries volatility before those assumptions harden in a live tender
Safety / operations
The main operations question is whether the contract still matches field reality. If scope, response times, or liabilities are vague, the risk usually shows up during execution
What to watch
Watch scope creep, liability pushback, and term changes that move volatility back onto the buyer even if the base rate looks manageable
Key facts
- "It supports your conclusions across several Superannuation Industry (Supervision) Act 1993 (
- "Trustees or directors of the corporate trustee must sign and date the TRL before you complet
- " The ATO said the trustee representation letter contains written representations from the tr
- "These include maintaining accounting records for 5 years, retaining the trustee declaration