Compliance program 2011-12

Superannuation intermediaries

Approved auditors of self-managed superannuation funds are a key part of the assurance framework for the self-managed superannuation funds system.

In collaboration with their professional associations, we will support auditors through guides, publications and support tools, such as the recently updated electronic superannuation tool eSAT. This tool assists auditors to complete compliance audits of self-managed superannuation funds and satisfy reporting obligations. We will also extend the super professional-to-professional support service to the top 100 approved auditors, who complete over 30% of the audits of self-managed superannuation funds.

We will be expanding our program of audits and reviews of approved auditors of self-managed superannuation funds to ensure they are properly fulfilling their role in accordance with the law and relevant professional competencies and standards. This year we will be undertaking 300 audits and 600 reviews - almost a 50% increase over our activities last year. Where auditors pose an on-going risk we will disqualify them as approved auditors and apply other sanctions, including referral to their professional associations' disciplinary committee, or prosecution, depending on the severity of behaviour.

We will also help prepare auditors for the proposed new registration required under the Government's Stronger Super program.

Sections within Tax practitioners

• Understanding registered agents
• Lodgment program performance
• Small business benchmarks
• Encouraging compliance
• Superannuation intermediaries