Reliance Auditing Services

07/01/2024

The Federal Government is still pushing ahead with changes to the superannuation system, but there's a very real risk of consequences for the Australian economy.

26/10/2023

The consultation period for the Federal Government’s draft superannuation legislation may have ended, but that doesn’t mean the fight against it has. Managing Director Naz Randeria is continuing to push back against what she says are inequitable and unsustainable measures.

Despite the Federal Government claiming changes to superannuation will make the system ‘more sustainable and fairer’, closer examination of the draft legislation reveals the measures are actually inequitable and unsustainable in the long term. At a simple level, plans to double the tax rate and ...

24/08/2023

Ensuring your auditor is truly independent is vital to ensure you don’t expose your business to potential risks, costly mistakes or reputation damage.

But what does an independent auditor look like? Managing Director Naz Randeria outlines the questions businesses should be asking, before engaging with any external auditor.

Businesses need to consider whether they are engaged with a truly independent auditor to avoid potentially exposing their company to unnecessary risk, costly mistakes or even non-compliance. An auditor presents an opportunity for a business to have their financials thoroughly checked by a fresh set

12/07/2023

The Federal Government’s Auditing and Assurance Standards Board’s updated quality management standards (ASQM) came into effect in December, focusing on proactively identifying and responding to risks to quality.

At Reliance Auditing Services, we are committed to upholding the highest standards of our profession and are proud to confirm that after being selected for an ASQM compliance and quality review earlier this year, Reliance was found to meet all guidelines, and no further action was recommended or required.

03/05/2023

As the Federal Budget approaches, Managing Director Naz Randeria has been highlighting her concerns with the proposed changes to superannuation, including the very real impact on those who have played by current rules and saved for their retirement.

You can read her Open Letter to the Federal Treasurer in this recent article in the SMSF Adviser.

Naz Randeria is not afraid to put herself on the frontline when it comes to the Government’s super tax proposal. The West Australian auditor and managing director of Reliance Auditing Services, has

27/04/2023

Commentary around the Federal Government’s proposed superannuation changes may have dropped off in recent times, but Managing Director Naz Randeria remains committed to highlighting what she believes are fundamental issues with the proposal.

03/04/2023

Following changes to the Superannuation Industry (Supervision) Act, Managing Director Naz Randeria has been asked whether it’s still necessary for Trustee Representation Letters to require a complete set of signatures from all Trustees/Directors. While the answer is overwhelmingly yes, the reason behind it is about more than just compliance.

On the back of recent amendments to the Superannuation Industry (Supervision) Act allowing a change in financial statement signatory requirements, questions are being asked about whether audit documentation should also be subject to those changes. Specifically, some have questioned whether there is

15/03/2023

Managing Director Naz Randeria is passionate about all things superannuation and in particular, ensuring more people are engaged with their super accounts, to boost their balances for retirement. We were thrilled to see Naz talking about this topic on 7NEWS Perth’s Budget Buster segment last night, you can watch the story below.

“There is an estimated 1.2 billion dollars sitting in lost or unclaimed super funds in W.A. While the money can be rolled-over when claimed, leaving the cash sitting idle can cost you even more in the long run. ”

02/03/2023

Will you be impacted by the Federal Government’s changes to superannuation concessional tax rates? Managing Director Naz Randeria believes too many people won’t know the answer to that question, because they’re not engaged with their own super accounts. But, as Naz points out, it’s never too early, or too late, to re-connect with your superannuation.

The recent decision by the Albanese Government to double the concessional tax rate on superannuation balances of more than $3 million has highlighted an underlying issue with superannuation more generally – the disconnect between Australians and the money in their super accounts. While the Governm...