According to data from Class, 27.6 per cent of SMSF assets were invested in direct equities, the second most popular asset class after cash. Through automation, direct share registry connections eliminated the need for accountants and auditors to manually navigate registry websites.

The connections also leveraged holding information to provide accountants and auditors with monthly holding balances, facilitating year-end audits by providing accurate and timely ownership verification information.

Tim Steele, chief executive of Class, said with direct connections to all major share registries, accountants and auditors could streamline collaboration, leveraging Class’s automation capabilities to provide accurate, real-time compliance.

Joe Buttegieg, director of Class client Super Know How, said the share registry connections would save time and improve the overall accuracy of managing ASX shares.

“The registry connection will mean no more manual checks, saving about five to 20 minutes per SMSF, and improving the overall accuracy of managing ASX shares,” he said.

The addition follows the recent release of property feed enhancements, which included integration with InfoTrack to enable nationwide property title searches and certificates and expanded valuation capabilities to integrate with PropTrack and CoreLogic to offer residential property valuations.