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Fundamental Principles & Practice of SMSF Audit

Ashley Course - ARC Super

Tuesday, 27 February 2018 from 9:30 am to 4:30 pm (AEDT)

Fundamental Principles & Practice of SMSF Audit

Ticket Information

Ticket Type Sales End Price * Fee Quantity
ARC Plus Platinum, Gold and Silver Member
ARC Plus Gold and Platinum members receive complimentary attendance to either one full day face to face session, or three two hour face to face sessions. If you are an ARC Plus Gold or Platinum member who would like to attend this event, and have not used your complimentary offer, contact us on 1800 300 578 to register.
27/02/2018 $489.00 $0.00
Non-Member 27/02/2018 $599.00 $0.00
* Prices include GST

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Event Details

Fundamental Principles & Practice of SMSF Audit


Introduction & Overview

The professional obligations of approved SMSF auditors, of which there are a number, are prescribed in the SIS Act.  Three of these include the requirement to comply with the Competency Standards prescribed by the SIS Regulations, the Australian auditing and assurance standards, and the auditor independence requirements.

The objective of this session is for auditors to understand what is required to conduct an audit in accordance with these requirements.  Auditors shall develop an understanding of how not all SMSF audits are the same and the approach taken will vary based on the risks and issues relating to each situation.

In doing so, the session will cover the key audit procedures and concepts listed below.

 

Learning Objectives

Upon completion of this session attendees will develop peace of mind as to what is required to comply with the mandatory auditing standards in a range of situations. Specifically, auditors will obtain a better understanding of the ‘audit process’ and how to document their procedures and evidence.

 

Recommended For

The workshop will allow junior auditors to develop an understanding of the audit process and experienced auditors to gain peace of mind with regard to what they are currently doing.

 

Topics Covered

This workshop will cover the following:

1.  Incorporating the latest legislative changes into the auditor's planning and substantive procedures
2.  Client acceptance & retention - the biggest risk source along with the fund's system of internal control (yes SMSFs have a system of I/C)
3.  Documenting and testing the fund's internal controls (most funds have a system which can be easily documented and assessed) and the implications of the results
4.  Document updates (are new engagement, representation and other letters required as a result of recent changes)
5.  Other risk identification procedures
6.  Audit sampling and evidence and how this varies based on the results of above

7.  Critical evidence and documentation requirements
8.  Auditor's reporting requirements - Auditor's report, ACR and management letter requirements



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, accounting
firms and software providers.

 

Have questions about Fundamental Principles & Practice of SMSF Audit? Contact Ashley Course - ARC Super

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When & Where

Level 10, 210 George Street
Sydney, NSW
Australia

Tuesday, 27 February 2018 from 9:30 am to 4:30 pm (AEDT)


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