ASF Audits head of education Shelley Banton outlines the practical challenges with SuperStream still impacting SMSFs and the proactive steps that can be taken to help avoid potential issues.

With SMSF auditors to soon start reviewing rollovers undertaken by SMSFs during the 2021-22 financial year, Shelley gives an overview of what the requirements are under the regulations and what evidence SMSF auditors will be looking for at audit time.

She also outlines what evidence SMSF trustees will need to provide their auditor where they have relied on the ATO's relief for SMSFs without an SMSF messaging provider that allows for rollovers and release authorities.

She also highlights some of the big problem areas in terms of complying with the requirements and the importance of "stress testing" the fund for a range of potential circumstances in order to prevent potential breaches in the future.