653 paragraphs found
The professional obligations of approved SMSF auditors under the SISA [24] are to: complete the continuing professional development requirements prescribed by the regulations; [25] hold a current policy of professional indemnity insurance; [26] comply …
In addition, approved SMSF auditors may be subject to competency requirements, for the audit of SMSFs, by virtue of their membership of a professional body. For example, members of CPA Australia, Chartered Accountants Australia and New Zealand (CA ANZ) …
The auditor is required under the SISA to: provide an auditor’s report on the SMSF’s operations for the year to the trustee in the approved form, [30] no longer than 28 days after the trustee of the fund has provided all documents relevant to the …
The auditor may also provide information in the ACR to the ATO about the SMSF or a trustee of the SMSF, if the auditor considers it will assist the ATO in performing its functions under the SISA and SISR (section 130A of the …
The approved form auditor’s report, issued by the ATO, is divided into two parts: Part A: Financial report, which requires the auditor to express an opinion on the financial report, based on the audit, conducted “in accordance with Australian Auditing …
This Guidance Statement has been formulated by the Auditing and Assurance Standards Board (AUASB) to provide guidance to auditors conducting: an audit of a self managed superannuation fund’s (SMSF’s) financial report [1] , prepared as ‘Special Purpose …
This Guidance Statement does not apply to audits of Australian Prudential Regulation Authority (APRA) regulated superannuation entities. …
This Guidance Statement is issued on 10 June 2020 by the AUASB and replaces GS 009 Auditing Self-Managed Superannuation Funds , issued in September 2015. The content of this guidance statement reflects auditing standards, other standards and …
SMSFs are a specific type of superannuation fund which have fewer than five members and are regulated by the Australian Taxation Office (ATO). In addition, the SISA [3] gives ASIC the responsibility for the registration of approved SMSF auditors and …
The SISA, subsection 35C(1), requires SMSFs to be audited each financial year by an approved SMSF auditor (the auditor), [5] who is required to complete both the financial audit and the compliance engagement and sign the auditor’s report before a SMSF may …