Published on 22 Oct 2008
| Took place at Kooyong Tennis Club
This event was suitable for any accountant, auditor or adviser
with SMSF clients.
Auditing SMSF’s—The SIS issues
Author(s): Rob JEREMIAH Corporate Club Series
The recent Competency Requirements for SMSF auditors set down by the Australian Professional Accounting Bodies Joint Standing Committee require a qualified auditor to undertake 30 hours of professional development in each rolling 3 year period. The necessary key compliance knowledge requirements include an understanding of the Superannuation Industry (Supervision) Act and Regulations to the extent that they apply to SMSF's. These audit requirements have recently changed. This is a great opportunity for SMSF auditors and advisors to learn about the changes and to brush up on all of the SIS technical requirements.
This presentation covers the relevant SIS requirements and their implications for accountants and lawyers, including:
discussion on the information required by Section I of the new SMSF Annual Return
an overview and practical implications of the new Auditor Contravention Report
what breaches must be reported and how to complete the Report.