Show download pdf controls
  • ATO SMSF auditor independence guidance has been updated

    In mid-March we announced the publication on our website of our detailed guidance on the independence standards for approved self-managed super fund (SMSF) auditors.

    Providing guidance in this format is enabling us to respond to changes, emerging issues and future guidance needs to assist approved self-managed super fund (SMSF) auditors to meet their obligations.

    Today we announce that an update has been applied to the following section of the guidance, Auditor Independence - Issues for firms when re-structuring in the Reciprocal auditing arrangements and referral source information area.

    The update makes it clear that where a well-established firm mainly derives its income from providing auditing services, as a guide, if the fees generated from one referral source are less than 20% of the firm’s total fees, we would not consider this in itself to create an independence threat. Other factors may still be relevant in evaluating the level of any threats to independence.

    Since the guidance is intended to be an ongoing document to which further updates on independence issues may need to be added, we will provide notification to industry of when any significant updates are made.

    See also:

    Keep up to date:

      Last modified: 01 Apr 2021QC 65204