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Q&A: What account authority should my accountant have?

Garth McNally
Garth McNally

Q: My accountant, the SMSF administrator, has requested full third-party authority for our fund account. Is this common practice?

A: This is something that’s starting to happen a lot a lot more when it comes to the automation and software, which is now applicable in the SMSF space. I’d ask you to step back and have a think about what authority you’re being asked to give and what authority you’re actually giving to your accountant or your SMSF administrator.

About the author

Garth McNally
Garth McNally
Garth has worked in the Australian Superannuation industry for over 20 years with a specific focus on self-managed super funds. He provides ongoing support and training to individuals as well as to professionals working in the superannuation area, including advisers, accountants and lawyers. He is a regular contributor to industry publications and to the leading professional bodies including Chartered Accountants Australia & New Zealand (CA ANZ).
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