Early March, ASIC reported that it had identified 18 SMSF auditors who were involved in reciprocal audit arrangements, where each agreement involved two SMSF auditors who audited each other’s personal …
Large Amount of Work Is Coming at SMSF Auditors
The impact of COVID and lockdowns have hindered the SMSF audit processes, which is causing havoc for many SMSF firms. The trustees have been slow to obtain information and reply …
Decline in SMSF Auditors to Exacerbate Post-Auditor Independence
According to an SMSF technical expert, the overall number of SMSF auditors has continued to fall, and the tendency may continue owing to the influence of independence standards and fee …
ATO to ensure compliance with APES110 Auditor independence
Under APES110 Auditor independence effective 1 July 2021, SMSF auditors performing an in-house audit will be expected to show unambiguous proof their firm had no management duties for an SMSF …
Is independence really so difficult? Comments on APES110 Auditor independence
The APES 110 Code of Ethics for Professional Accountants (including Independence Standards) has been in the news more recently as the SMSF Association has sought to secure an extension for the deadline by …
Australian SMSF auditors: including the extra Coronavirus Disease (COVID-19) Notification
With the longer term impact of COVID-19 as yet one of the unknowns, there has been recent news regarding disclosure requirements for SMSF trustees who have not yet completed their …