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Crackdown on Auditor independence as auditor numbers continue to go down

SMSF auditors must comply with the auditor independence requirements set by the Accounting and Professional Ethics Standards Board (APESB) in APES 110. The guide to these independence requirements was revised in May 2020, with application from 1 January 2020. However, the ATO provided a grace period for enforcement up until 30 June 2021. From 1…