OnlineSMSFaudit .com.au  e-newsletter

Update: Liability limited by a scheme approved under Professional Standards Legislation (application to CPA members)

As you are aware of Limited Liability Scheme Guidance Note (CPA Australia), September 2017 edition states that the current CPA Australia Professional Standards Councils (PSC) scheme which operates across mainland Australia expires on 7 October 2017. As a result, CPA members will be required to remove limited liability disclosure statements from all relevant materials from 8 October 2017.

It also states that CPA Australia’s application for a new Scheme was lodged in January 2017 and consideration of the application is underway.

However, as a result of the Professional Standards Councils (PSC) seeking additional information, the PSC was unable to direct the proposed new scheme to be published for publication notification mid-year. CPA Australia also informed that they will continue to work with the PSC and anticipates that the application to be approved for public consultation shortly.

We have internally reviewed the documentation we provide as part of audit working papers and have identified following letterhead styles that show “Liability limited by a scheme approved under Professional Standards Legislation”

• Style 1
• Style 2
• Style 3
• Style 6

We advise all the SMSF auditors on our software (www.onlinesmsfaudit.com.au) who are affected by this notification from CPA and are using any of the above shown letterhead styles to select a different style for their audit working papers to remain compliant with guidelines prescribed by CPA Australia.

At Online SMSF Audit, we are currently reviewing our documentation and making appropriate changes as per the guidelines, however, till further notice, we strongly recommend you not to use the letterhead style mentioned above.

ONLINE SMSF AUDIT WORKSHOP (6 CPD HOURS)

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How to reduce SMSF Audit time in half!

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Australia’s first online SMSF Audit Software – Fully Automated Online SMSF Auditing Software

Workshop : 6 hours from 9.30 am to 3.30 PM

When: 

14th November, 2017 (Tuesday) - Sold out

7th December, 2017 (Thursday) - 5 seats left

Where: Suite 3.04, Level 3, 29-31 Solent Circuit Baulkham Hills, NSW 2153

Cost: $165 incl. GST 

(Includes working Lunch / Coffee + 10 online audits worth $187 + 6 CPD Hours From FPA)

How to Register: Visit  https://www.onlinesmsfaudit.com.au/SeminarBooking.aspx

Benefits/learning outcomes

Recommended For

All SMSF ASIC approved auditors.

CPD Hours

6 CPD hours under self assessment method under RG 243.88 - 90 for Audit of SMSF.

This activity has been accredited for continuing professional development by the Financial Planning Association of Australia but does not constitute FPA’s endorsement of the activity.

Attendee Requirements

Attendees may bring their own Laptops / Ipads for a better understanding - although some attendees may get more from the workshop by looking at the facilitators screen. 

Speaker

Mr Manoj Abichandani

ASIC approved SMSF Auditor, B.Bus(UTS), SMSF Specialist (UNSW) CTA FIPA LREA

Manoj has worked in SMSF space for over 25 years, first as an SMSF specialist advising over 600 funds with a CPA firm and later as an SMSF auditor. He develops and lectures on strategies which are practical and enhances retirement benefits of trustees. He has been working for the last 6 years in writing and developing online SMSF audit software- Australia's first SMSF auditing tool.

 

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