Tighten Audit Controls and HR Supplier Compliance Immediately

A Melbourne SMSF auditor has been convicted and sentenced for continuing to act as an auditor while disqualified and falsifying audit documents. Kristian John Convery was convicted and sentenced by the Melbourne Magistrates’ Court after pleading guilty to acting as an SMSF auditor while disqualified and falsifying audit documents

The court heard that Convery provided completed SMSF audit reports in another registered auditor’s name, despite that auditor having neither participated in the audits nor permitted the use of their details

The corporate regulator alleged that Convery had created a series of false documents, including a letter and 47 SMSF audit reports between June 2024 and January 2025

In its latest findings, the agency found a significant range in pay gaps among the largest mid-tier accounting firms, with some firms reporting gender pay gaps as large as 24 per cent

Earlier this year, mid-tier firms reported gender pay gaps of up to 24 per cent after mandatory reporting data was collated, with the now 40-year-old legislation continuing to close the gap

We must continue building workplaces where women are valued equally, have the same opportunities to participate and lead, and can fulfil their potential,” Minister Gallagher said. In its latest findings, the agency found a significant range in pay gaps among the largest mid-tier accounting firms, with some firms reporting gender pay gaps as large as 24 per cent

This is why the ATO’s recent warning to taxpayers about claiming inappropriate deductions for home occupancy costs such as rent and interest should not come as a surprise. In TR 93/30, the ATO discusses deductions for home occupancy expenses (including rent and interest) for those working from home

The real challenge is that the potential need to make these judgements and draw these distinctions raises the complexity level in an area where there can be significant tax consequences

The other key condition is that the client’s role requires them to work from such a place and that there is no alternative office or workplace

The SMSF Association said it would support proportionate reform to address identified gaps in the oversight and monitoring of firms that provide audit services. "While quality management and professional obligations already apply, firm-level accountability should be strengthened through a targeted registration model that applies to all relevant audit firms, regardless of structure, and requires ongoing compliance with international quality management and independence obligations," it said

The submission said introducing a registration model in which firms that provide audit services to reporting entities must be registered and meet ongoing obligations at a firm level to remain registered would be an effective way to address some of the regulatory gaps that currently exist in audit services. The conditions of registration, it said, should include compliance with quality management standards and independence obligations

In a recent submission, the SMSF Association rejected many of the government’s proposals to enhance regulation in the audit sector to strengthen independence, ethics, culture and values, but said it would support establishing a targeted registration model that would apply to all relevant audit firms. The government recently consulted on a range of options to improve the integrity of audit firms following the fallout from the audit misconduct scandal at KPMG, which stemmed from allegations made by a whistleblow