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Free Webinar for members - SMSF Auditors Association of Australia

 

"Audit Issues when a member losses Capacity"  

By Clinton Jackson | Partner | Cooper Grace Ward Lawyers

 

Incapacity amongst SMSF trustees and members is becoming much more prevalent.

Although it is now more common for advisers to plan for the incapacity of SMSF trustees and members, those plans are usually flowed and not implemented properly.

As a result, this is a becoming a major issue for SMSF audits.

Has the attorney been properly appointed as trustee? Is the attorney able to exercise the powers of the member in relation to giving directions to the trustee? Have documents been correctly signed? Any one of these issues being dealt with incorrectly can have major consequences for the SMSF and the actions it has taken.

There are also some common trust deed provisions that can lead to an SMSF breaching the SIS Act where a member or trustee has lost capacity.

This webinar will explore incapacity in detail to ensure and that you are armed with the know how to properly assess these issues when undertaking an SMSF audit.

 
  • Webinar Details:
  • Date : 19th March  2019 (Tuesday)
  • Time: 2:00 PM To 3:00 PM 
  • How To Book: https://www.smsfaaa.com.au/Home/Webinar
  • CPD Hours : 1 Hour CPD in SMSF Audit

Speaker : Clinton Jackson | Partner | Cooper Grace Ward

 

Clinton is a partner at Cooper Grace Ward where he advises extensively on tax and structuring issues, self-managed superannuation, asset protection and succession and succession planning, restructuring and exit strategies.

Clinton’s unique range of expertise enables him to assist his clients with both their personal and business legal issues and to advise through all phases of the business/investment lifecycle - from start up, growth, expansion, transition and exit.

Clinton is an accredited specialist superannuation adviser with the SMSF Association and member of the Society of Trust and Estate Practitioners.

T 61 7 3231 2451       M 61 466 665 169       E clinton.jackson@cgw.com.au

 
 

 

SMSF Auditors Association of Australia Ltd

 

Schedule for 2019 Calendar Year

 

5th Feb - What SMSF Auditors should do now to avoid being sued by Trustees  - By Grant Abbott | SMSF Author - Recorded Version available for members 

19th Feb -When & When not to lodge a Contravention with ATO - By Manoj Abichandani | SMSF Technical Director | trustdeed.com.au

19th March - Audit Issues when a member losses Capacity - By Clinton Jackson | Partner | Cooper Grace Ward Lawyers

2nd April  - Audit Issues for the payment of Death Benefits - By Allan Swan | Lawyer | Estate Planning Equation 

30th April -Yes, property development in an SMSF can be done BUT... - By Phil Broderick | Principal Sladen Legal

14th May - Sole Purpose Test - By Chris Ketsakidis | Partner Corporate Advisory | Mills Oakley

28th May -  Contributions to SMSF - Auditor's Prospective - By Mark Wilkinson | Partner Superannuation - BDO Private Wealth Advisers

25th June -Audit Issues for Paying Member Benefits - By Lyn Formica | Head SMSF Technical Services | Heffron SMSF Solutions

9th July - What SMSF auditors need to know about super proceeds & testamentary trusts - By Bryce Figot | Special Counsel DBA Lawyers

23rd July -Validity of BDBN - What Auditors needs to check - By Rebecca van Langenberg | Special Counsel Madgwicks Lawyers

6th Aug - Pension Documents: Auditor's prevention is better than any cure - By Scott Hay-Bartlem | Partner | Cooper Grace Ward Lawyers

20th Aug - To Be Advised - By Peter Bobbin - Managing Principal | Argyle Lawyers

3rd Sept  -In-House Assets - Audit of SMSF's that invest in Trusts - By Manoj Abichandani | Techinical Director www.trustdeed.com.au

1st Oct -SMSF Residency Issues - By Chris Ketsakidis | Partner Corporate Advisory | Mills Oakley

12th Nov - SMSFs and Asset Protection - By Phil Broderick | Principal Sladen Legal

26th Nov -To Be Advised - By Mark Wilkinson | Partner Superannuation - BDO Private Wealth Advisers

 

SMSF Auditors Association of Australia membership is open to only ASIC approved SMSF Auditors, it currently has 284 financial members.

Membership of the Association is $10 + GST per month and is paid in advance to June each year. The benefits of being a member of the association are :

1) Real time Online Chat with focus members (more experienced) on complex audit issues relating to your current audit. The chat button is after you log in to the website and if no focus members are online, your question is emailed to them for their response.

2) Attend 20 free webinars per year by various SMSF industry experts. For attending each webinar you should be able to claim 1 CPD hour in SMSF Audit. To book for any session, simply log in and go to webinar page.

3) Express opinion online, on various submissions which the association makes to the ATO, ASIC and Treasury.

4) As an Association, we are here to help & support our members in case they feel threatened, by unreasonable ASIC disqualification or ATO exerting un-due pressure on the good work which most our members do.

 

 

 

CPD Requirement for SMSF Auditors

T    SIS Regulations 9A.04

(1)  For paragraph 128F(a) of the Act, the requirements in this regulation form the continuing professional development requirement.

(2)  The approved SMSF auditor must undertake at least 120 hours of continuing professional development every 3 years.

(3)  The development must: (a)  include 30 hours of development about superannuation at least 8 hours of which is development about auditing of self managed superannuation funds; and (b) : be development that could reasonably be expected to enhance an approved SMSF auditor's technical skills or professional service delivery.

 
 
 
 
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