KPMG is entering a partnership agreement with self-managed superannuation funds (SMSF) software provider Class, looking to leverage new potential for growth in its SMSF administration business and business advisory group.
The agreement would see the use of Class Super for KPMG’s SMSF administration business, whilst the Class Portfolio offering would be utilised by the accounting firm’s business advisory group.
Class chief executive Kevin Bungard said KPMG’s selection of the providers software would assist in the firm meeting the new transfer balance account report (TBAR) provisions.
“Accountants still using desktop software or manual methods need to put in place a system to enable them to cope with TBAR,” he said.
“An automated solution to SMSF administration is no longer a nice-to-have, it has become a necessity.”