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Auditing SMSF’s–The SIS issues presentation

Published on 22 Oct 08

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.

Author profile:

Rob is a Director and Shareholder of Harwood Andrews Lawyers and is an accredited specialist with the Law Institute of Victoria in Income Tax Law and Business Law. Rob has been recognised as one of Australia's leading taxation lawyers by ALB's Legal Who's Who Australia 2003. Rob practises principally in the areas of taxation and revenue law, superannuation, business and investment structuring, advice on various types of trusts, asset protection and succession planning and business and commercial advice. Rob has presented on numerous occasions at State and National seminars and conferences on taxation and trust law issues for both the Taxation Institute of Australia and other industry groups and bodies.
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Auditing SMSF’s—The SIS issues

Author(s):  Rob JEREMIAH

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