“We often don’t get things like the takeover docs, the trust deeds, investment strategies, the previous year’s reports, financial statements or ASIC searches and it’s these little things at the smallest end that make it difficult and hold up the audit at the end of the day,” Ms Banton said.

She said during the audit she found several other documents often missing such as rental statements, whether there is a lease agreement in place, and if it is with a related party.

“And there are even smaller things like getting the HIN number and the postcode. It's all little devil-in-the-detail nuances of documentation that we can't get our hands on that stops us undertaking the audit in a seamless fashion, which is really what we want,” Ms Banton said.

“We are all about having that audit as a one-click process, so we encourage trustees to get into their software, press the button, send the audit to us, and we will then look at the information online.”

Although documentation is the biggest issue that auditors may be experiencing, Ms Banton said other issues can impact the process and speed of an audit including issues that relate to different complex assets.

“If you've got unlisted entities we go back to market valuation but we have to know what documentation is being provided for that market value. Is it a shared training that's happened through the year? Is it an independent report from the CEO, or CFO of that company? And if it is, does that report or that valuation include a methodology of how they've arrived at that if there is no share trading?” she asked.

Ms Banton added the ATO website has comprehensive guidelines on market valuation which, if followed, usually result in a more trouble-free audit.

“It generally follows that if you follow those guidelines you're going to have very few or no audit queries that may hold up your audit,” she said.

“And as we're getting close to the 15 May, the run rate is getting bigger if those delays just continue.”