218 paragraphs found
The complexity of the audit strategy will vary with the size, nature and complexity of the SMSF. [69] The strategy guides the development of the more detailed audit plan for the nature, timing and extent of evidence gathering procedures to be performed …
The ATO’s electronic superannuation audit tool (eSAT), may provide assistance and is available on the ATO website . …
… the auditor to conduct the audit in accordance with Auditing Standards to form an opinion regarding the fair …
As outlined in Section 8.4 of the Independence Guide – Fifth Edition, May 2020 (Independence Guide) the following scenarios involving SMSFs would always result in independence requirements being breached. In each of these cases, it would be expected that …
ASA 320 requires the auditor to consider performance materiality [72] when determining the nature, timing and extent of financial audit procedures, and ASA 450 requires the auditor to consider materiality when evaluating the effect of misstatements …
ASA 530 Audit Sampling requires the auditor to determine the appropriate means for selecting items for testing. Due to the specific nature of SMSFs and limited internal control environment, the auditor ordinarily relies on a highly substantive method of …
A type 2 report on controls can be relied on to the extent the SMSF auditor can map the tests of controls against the assertions in the service provider’s assurance report. SMSF auditors need to ensure that any report issued complies with ASAE 3402 …
The auditor obtains written representations from the trustee to confirm responses to oral enquiries on material matters when other sufficient appropriate audit evidence cannot reasonably be expected to exist or when the other audit evidence obtained is of …
For an initial audit, where there has been a change of auditor, the auditor communicates with the previous auditor in accordance with the relevant ethical requirements to ensure that there is no impediment or restriction in accepting and conducting the …