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Hi

There are 6059 auditors as on 1st May 2018 as per government records, which belong to one or more of the below 6 professional bodies.

Time has come that SMSF Auditors re-group themselves and help the government in their consultation work instead of officials of professional bodies who are not SMSF auditors themselves or few individuals in each organisation who have no proactial knowledge on SMSF Audit matters. I have had several conversations regarding this matter with many auditors and the general idea is have an association with a specific purpose - concerns such as CPD / Representation at ATO audits was raised as current professional bodies offer no helping hand and over the years have become memberships fees hungary without doing much for members who are public practice.

SMSF Auditors Association of Australia

Those in favour of setting up SAAA / joining a representative body dedicated to SMSF Auditors - kindly send an email to 

yessmsfassociation@ucservices.com.au 

 

Please express interest at one of the three levels 

a) Founding Member - minimum 7 required - $100 contribution required to set up LTD company etc

b) Focus Group Member  - will actively participate in discussions

c) General member - no additional role

If we get enough numbers - I will get to the next stage, contact all founding members for forming the association and its constitution etc.

 

Very breif agenda of the association - to be decided by founding members in the first AGM.

1) Representation / Assisstance when ASIC / ATO investigates SMSF auditor

2) Representations to Government on key SMSF matters

3) Website with relevant information downloads to members

4) Monthly free webcast from SMSF Industry experts for free CPD hours

5) Annual SMSF Expo - to generate funds for the association

 

Fees: Anywhere from Zero to $100 per year - to cover costs of annual registrations (non-profit) 

Employees: Nil

 

Let's get together....

Manoj Abichandani

ASIC Approved SMSF Auditor


 

Professional Bodies

1. CPA Australia Limited 

2. The Institute of Chartered Accountants in Australia

3.Institute of Public Accountants

4. Association of Taxation and Management Accountants

5. National Tax and Accountants Association Ltd

6. SMSF Professionals’ Association of Australia Limited

 
 
Budget 18 - 19 Announcement

Superannuation — three-yearly audit cycle for some self-managed superannuation funds

The Government will change the annual audit requirement to a three-yearly requirement for self-managed superannuation funds (SMSFs) with a history of good record-keeping and compliance. This measure will reduce red tape for SMSF trustees that have a history of three consecutive years of clear audit reports and that have lodged the fund’s annual returns in a timely manner. This measure will start on 1 July 2019 and, to ensure smooth implementation, the Government will consult with stakeholders.  

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