|
We recommend that you read this guide and make sure you are familiar with your professional obligations and those under the super laws, including the relevant compliance provisions for self-managed super funds (SMSFs).
|
|
From 1 July 2013, auditors must be registered with Australian Securities and Investments Commission (ASIC) to conduct SMSF audits. You can apply and pay fees online with ASIC from 31 January 2013. To ensure your application can be processed by 1 July 2013, you should lodge your application with ASIC by 30 April 2013.
You can also access current information by:
|
Commissioner's foreword
Regulating SMSFs is an important responsibility entrusted to us. In discharging this responsibility, we seek to provide services and assistance to improve the knowledge and skills of approved auditors.
Approved auditors, through the annual audit of each SMSF, perform a critical role in maintaining the health and integrity of the SMSF system which is the fastest growing segment of the super industry. In this role, approved auditors identify and report relevant matters associated with an SMSF and accordingly provide a strong positive influence on trustees. It is recognised that many auditors adopt best practice and also provide guidance to their clients on how to get things right.
As a professional you are required to follow a range of codes of practice, standards and requirements. We work closely with the professional accounting bodies in relation to the requirements and standards relevant to SMSF audits and in providing guidance for approved auditors. Together we are committed to maintaining and improving the performance of approved auditors.
In addition to helping and supporting approved auditors, we identify those auditors who fail to 'adequately and properly' perform their duties and work with the professional associations to improve overall performance.
This publication provides you with information about:
- your responsibilities under the super laws
- the expectations we have when you conduct an SMSF audit
- further support to assist you in satisfying these obligations.
As an approved auditor, we expect you to understand your obligations under the super laws and hope this publication will assist you in this.
Last Modified: Monday, 4 February 2013