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SMSF Advanced Audit & Legislative Update

Ashley Course - ARC Super

Friday, 1 September 2017 from 9:00 am to 5:00 pm (AEST)

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.
01/09/2017 $330.00 $0.00
Non-Member 01/09/2017 $440.00 $0.00
* Prices include GST

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Event Details

SMSF Advanced Audit & Legislative Update

Introduction & Overview 

In addition to discussing the recent legislative changes and their impact on the auditor’s obligations, this session will address:

1.   Increasing audit (and accounting) efficiency

With an ongoing drive to reduce accounting and audit fees combined with ever-increasing operating costs, a significant issue facing SMSF professionals is how to increase audit (and accounting) efficiency without detracting from compliance.

This session will discuss a number of very easy ways to increase efficiency and reduce costs, along with important factors to consider, without detracting from quality and compliance.

2.   Complex and unusual situations faced by SMSF auditors

SMSF auditors often encounter complex situations leaving them confused and scared of the possible consequences of ‘getting it wrong’. The most likely reason for this confusion, fear or apprehension is the fact that such complex funds are not encountered regularly and the surrounding legislation is confusing.

The implication being that when auditors do take on audits of this nature they find themselves spending a lot of time re-learning the associated legislation to ensure they are doing the audit correctly.  They find themselves unsure as to how far they need to go to obtain evidence, and not sure of their reporting requirements

Unfortunately, with these type of audits there is often no simple solution.  Auditor’s will need to place a lot more reliance on their professional judgement.  Using a series of case studies, this session will cover some of these complex situations auditors will face.  It will discuss the key legislative requirements relating to each, and the mandatory audit standard requirements.  The session will discuss the key planning, risk identification and assessment procedures, substantive testing procedures including evidence requirements, as well as the auditor’s reporting requirements.

This session will aim to provide auditors with greater peace of mind regarding their professional judgment exercised in each situation

 

Learning Objectives

Upon completion of this session attendees will consolidate their understanding of the legislative requirements relating to a range of complex situations.  They will learn the auditing standard requirements in order to develop confidence in their ability to issue the appropriate report in each circumstance.

 

Recommended For

Intermediate to advance SMSF auditors.

 

Topics Covered

The workshop will cover the following:

1.  Legislative changes and the impact for the SMSF audit;

2.  Increasing audit and accounting efficiency without detracting from compliance:

     - Understanding the scope of the engagement
     - Use of technology to improve efficiency
     - Data fed information, the pros and cons, and can I rely on such evidence
     - The use of alternative substantive audit procedures

3. Case studies addressing the legislative requirements, risks and procedures relating to:
     - Related party investments and transactions
     - Private company and trust investments
     - Property development by the SMSF
     - Pensions and member benefits

4. Audit evidence requirements including:
     - How far do you need to go to get evidence?
     - What if the trustees’/accountants’ evidence appears unreasonable?
     - What if I can’t obtain sufficient appropriate evidence?

5. Auditor’s reporting requirements…. What do I do when???

 

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.  

 

Have questions about SMSF Advanced Audit & Legislative Update? Contact Ashley Course - ARC Super

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When & Where


Castlereagh Boutique Hotel
169 Castlereagh Street
Sydney, NSW 2000
Australia

Friday, 1 September 2017 from 9:00 am to 5:00 pm (AEST)


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