Mr Taxman
Change the way you feel about taxes.
Get informed and discover what the taxman doesn't want you to know.
Sharing it with Australia, Mr Taxman is a regular Woman’s Day columist and TV finance commentator
  • click to visit Mr Taxman on Twitter
  • click to visit Mr Taxman on FaceBook
  • rss

Competency standards for SMSF auditors?

Nov 29, 2012

ASIC has released a consultation paper Competency standards for auditors of self-managed superannuation funds (CP 192) on the proposed self-managed super fund (SMSF) auditor competency standards.

The new SMSF auditor registration regime will commence on 31 January 2013 and will require auditors to be registered with ASIC in order to sign off on SMSF auditor reports from 1 July 2013

The draft standards included in the consultation paper set out the competency standards that SMSF auditors registered with ASIC will have to comply with.

The competency standards have been based on the ‘Competency requirements for auditors of self-managed superannuation funds’ issued in February 2008 by the Joint Accounting Bodies (CPA Australia Ltd, The Institute of Chartered Accountants in Australia & the Institute of Public Accountants). Thiis quite surprising for me considering that so much has changed in the SMSF landscape in the past 4 years.

Detailed information in relation to the Government’s new SMSF auditor registration regime can be found in the Institute’s SMSF Auditor Registration fact sheet.  To assist in keeping up to date with the introduction of this regime
members can also subscribe to ASIC’s free ASIC SMSF Auditor Update which will provide the latest news on the SMSF auditor registration process.

Comments

Post a New Comment

Media Availability

Are you interested in booking Mr Taxman for a speaking engagement or requesting his viewpoints for an article?

comments-rhsLatest Comments

  • " Are you in need of a loan? we offer all kinds of loan like Personal loans, Debt Consolidation Loan, Venture Capital, Business Loan, Educational Loan, Home Loan, and Loan for any reason and urgent..."

    By: ROSALES at Sep 23, 2018 10:01PM

    Post: 101 Ways to Save Money on Your Tax Legally

  • " Are you in need of a loan? we offer all kinds of loan like Personal loans, Debt Consolidation Loan, Venture Capital, Business Loan, Educational Loan, Home Loan, and Loan for any reason and urgent..."

    By: ROSALES at Sep 23, 2018 9:59PM

    Post: 101 Ways to Save Money on Your Tax Legally

  • " Are you in need of a loan? we offer all kinds of loan like Personal loans, Debt Consolidation Loan, Venture Capital, Business Loan, Educational Loan, Home Loan, and Loan for any reason and urgent..."

    By: ROSALES at Sep 23, 2018 9:58PM

    Post: 101 Ways to Save Money on Your Tax Legally

  • "Business and personnel Loans,Loans ranging from $5,000-$100,000,000.Our passion is helping ones in need.We are based in the UK,but willing to loan outside,Interest Rates 3%..."

    By: Andrew Scot at Sep 23, 2018 6:09PM

    Post: 101 Ways to Save Money on Your Tax Legally

  • "Business and personnel Loans,Loans ranging from $5,000-$100,000,000.Our passion is helping ones in need.We are based in the UK,but willing to loan outside,Interest Rates 3%..."

    By: Andrew Scot at Sep 23, 2018 6:05PM

    Post: 101 Ways to Save Money on Your Tax Legally