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Auditing SMSF’s–The SIS Issues

Published on 22 Oct 2008 | Took place at Kooyong Tennis Club , VIC

This event was suitable for any accountant, auditor or adviser with SMSF clients.

Individual sessions

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.
Materials from this session: