SMSF auditors and auditor independence after 1 July 2021
For all audits completed after 1 July 2021, approved Self-managed super fund (SMSF) auditors and tax professionals must comply with the SMSF independence standards that impact in-house audits in APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (2018) (the Code), which became effective on 1 January 2020.
To assist professionals to meet the standards, we hosted a webinar which covered:
- scenarios where the auditor is prohibited from auditing a SMSF
- the independence standards that impact firms who provide both non-assurance and auditing services
- evidence the ATO will expect to see to demonstrate compliance with the standards
- issues to be aware of when restructuring to comply with the standards
- how the ATO will monitor compliance with these standards during the 2022 financial year.
For more information see also:
