Advanced SMSF Audit Workshop
Introduction & Overview
This session will be delivered through a series of case studies to address the legislative and regulatory changes and the impact of these changes on the SMSF auditor’s planning, risk assessment, substantive testing, evidence and reporting requirements. In particular this session will address financial and compliance issues arising from the recent legislative changes to contributions and pensions, as well as the usual suspects being related party transactions and investments. The session will also discuss the auditor’s reporting dilemma of how to report when appropriate audit evidence does not exist, particularly with private investments.
Upon completion of this workshop attendees will have an enhanced understanding of the impact of recent legislative requirements on the SMSF audit as well as the usual suspects, being related party transactions and investments and the auditor’s responsibility in relation to such.
Intermediate to experienced SMSF auditors.
The workshop will cover the legislative and audit
requirements relating to the following:
1. Legislation update and recent ATO pronouncements
2. Audit risks and procedures associated with recent changes to contributions and pension legislation
3. Auditing funds with PSI income - An ATO concern
4. Private company and trust investment risks and issues
5. Limited Recourse Borrowing Arrangements and related party loans
6. Arms’ length issues relating to SMSF income
7. Auditor’s reporting requirements when appropriate evidence does not exist
About the Presenter – Ashley Course
Ashley is the Director of ARC Super, which specialises in the provision of SMSF audit, technical and training services. Ashley has extensive experience designing and developing audit software and programs and for the last eleven years has trained and developed audit content for the professional accounting bodies and software providers.