Free Webinar

- by SMSF Auditors Association of Australia

"When and when not to lodge an Auditors Contravention Report to ATO"

- By Manoj Abichandani

• SIS Act legislates SMSF Auditors responsibility to report to Trustees on a prescribed format audit report which requires the auditor to form an opinion on the fund's Financial & Compliance status in the year of audit. If there is a breach, the auditor is obliged to report to the regulator, however not every breach has to be reported. 
• In this session, Manoj will discuss the legislative responsibility of the auditor and discuss:
• - what must be reported to the Trustees and why; 
• - importance of management letter - what issues must be addressed including disclaimers to protect themselves from Cam Vs Bear & Ryan's case
• - reporting obligation to the regulator - reporting criteria's
•  
• Webinar Details:
• Date : 19th Feb 2019 (Tuesday)

Speaker : Manoj Abichandani | SMSF Technical Director | trustdeed.com.au

Manoj has worked in SMSF space since 1988. He was providing high level advisory services to over 600 funds in his own 3 partner CPA tax practice for 19 years and has written an online SMSF Audit software. He currently works as SMSF Technical Support Team Leader at www.trustdeed.com.au providing 3rd level suppor tto over 2,000 accountants and advisors on complex SIS Act and Regulation matters.

He has hands on knowledge on what happens in a tax practice on high level of SMSF practical issues. He has two SMSF's for his own family where as a Trustee he is responsible for investment decisions. He also manages a small SMSF Administration business where he helps large SMSF's (Over $5 Million of assets) trustees in understanding SIS requirements. 

He has presented for the last 15 odd years in over 1,000 events and known for his upstream opinion on most SMSF issues. He is a tax agent, Approved ASIC SMSF Auditor, member of several professional bodies & Secretary of the Auditors Association of Australia. 

SMSF Auditors Association of Australia Ltd

Our Webinars 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 249 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.