SMSF Auditors Association of Australia Ltd

www.smsfaaa.com.au

SMSF auditors were not being represented solely by any one professional body. Hence on 3rd July 2018, 5 SMSF auditors got together and set up a company limited by guarantee to benefit all SMSF Auditors. Their first agenda is to get together and lodge a submission to the treasury on their move to 3 year audit cycle. Once you become a member, you will be able to voice your concern along with like minded auditors who do not want any change from the current yearly audit cycle.

Your comments are very important to the submission which has to be lodged before 31st August 2018 to the treasury. Once you become a member, you will be able to log in as a member in a secured area and put in your comments. You will also be able to see what other members are concerned about and how a 3 year audit cycle will destruct our profession and for some auditors their lively hood.

SMSF Auditors Association promises  the following benefits to its members:

• 1. Representing its members with the regulator and ASIC - E.G. 3 year audit cycle
• 2. Free CPD to its members - 20 hours / year webinars by SMSF Specialists
• 3. Free online help - Chat support - by Focus members (10 Yrs exp SMSF Auditors)
• 4. Cloud storage of earlier Chat issues - for staff training
• 5. Recording of all previous webinars by SMSF Specialists - for staff training
• 6. Low cost seminars by SMSF specialists with focus towards SMSF audit
• 7. Annual member fees $120 plus GST

SMSFAAA.com.au is only for SMSF Auditors and intends to serve their fellow auditors with a low monthly fees of $11. Membership runs from July to June each year. It insists it members follow the utmost level of professionalism and prosper together with sound and ethical professional development. Collaboration between members is an intelligent way to support each member to attain success.

This is the time to get together - we need a strong voice - Become a member now - www.smsfaaa.com.au

General Membership: For all SMSF Auditors

Focus Membership: For those SMSF Auditors who want to help other SMSF Auditors on online Chat

Manoj Abichandani

Founding member SMSF Association of Australia Ltd

Independent audit is crucial to your ASIC registration

SMSF auditors play a fundamental role in promoting confidence in the SMSF sector so it is crucial that they adhere to ethical standards. A second disqualification notice was announced by ASIC this week for an SMSF auditor. ASIC disqualified Kate Campbell from being an approved SMSF auditor after she audited the funds of close family members and relatives. This is a breach of APES 110 Code of Ethics for Professional Accountants.

Ms Campbell did not comply with the continuing professional development (CPD) requirements of the Superannuation Industry (Supervision) Act. Part of SMSF auditor registration, introduced in 2013, was setting base standards of competency and expertise. 

Earlier Keith Mar of NSW was disqualified as he audited his own fund and that of an immediate family member. ASIC also found Mr Mar audited a fund where he was the trustee and an immediate family member was the trustee.

ASIC also disqualified approved SMSF auditor, Paul Tattersall from Western Australia, for breaching independence requirements. Mr Tattersall breached the auditor-independence requirements of APES 110 Code of Ethics for Professional Accountants in auditing his own fund and the fund of an immediate family member, ASIC said in a statement. He also audited a fund where an immediate family member had prepared the financial statements.

ASIC has cancelled the registrations of more than 117 SMSF auditors after they failed to lodge their outstanding annual statements.