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SMSF Audit Fundamentals - Application of a Risk Based approach

Ashley Course - ARC Super

Tuesday, 21 November 2017 from 9:00 am to 5:00 pm (AEST)

SMSF Audit Fundamentals - Application of a Risk Based...

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.
2d 10h 58m $330.00 $0.00
Non-Member 27/11/2017 $440.00 $0.00
* Prices include GST

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Event Details

SMSF Audit Fundamentals - Application of a 'Risk Based' approach

Introduction & Overview

The Australian auditing standards require auditors to apply a risk based approach when undertaking audits. Whilst many adopt this practice for non SMSF audits, auditors tend to adopt a ‘one size fits all’ approach to the audit of SMSFs. Why so? Some argue ‘You can’t apply a risk based approach to SMSF audits’, ‘it’s easier’, or ‘it’s more efficient’ to apply a one size fits all approach. Others suggest most SMSF audits are ‘basically the same’ and therefore they apply the same approach. Another reason is the auditor does not have time to adjust their methodology to suit different audits.

In our opinion, none of these responses are true.

This workshop will go through the step by step process needed to apply a ‘Risk Based’ approach to the audit of SMSFs in accordance with the Australian auditing and assurance standards. The session will show attendees how SMSFs are different and how to easily identify and document the risks associated with different audits to quickly adjust the audit approach to suit these risks. This session will show that by adopting this approach to the audit of SMSFs auditors may increase their compliance with the auditing standards and reduce the time taken to audit SMSFs.

The session will also provide with a comprehensive SMSF audit toolkit designed to assist in meeting all the mandatory auditing requirements.

 

Learning Objectives

Upon completion of this session attendees will develop peace of mind as to what is required to comply with the mandatory standards. Attendees will learn that despite the large volume of standards, provided auditors have the right processes in place, compliance may not be as burdensome as many think.

 

Recommended For

The workshop will allow junior auditors to develop an understanding of the audit process, through to senior auditors who can compare their audit methods with other professionals.

 

Topics Covered

This workshop will cover the following:

1.  The Part A audit including legislative requirements and risks, and the link with member statements
2.  The 'Audit Process' commencing with accepting to completing the audit
3.  'Risk Identification', the greatest contributor to 'Audit Risk', and the implications
4.  Substantive testing procedures...these extend beyond inspection of detail
5.  Audit evidence, including sampling, and what is considered sufficient appropriate evidence


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 SMSF Audit Fundamentals - Application of a Risk Based approach? Contact Ashley Course - ARC Super

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When & Where

433 Logan Road
Stones Corner, QLD 4120
Australia

Tuesday, 21 November 2017 from 9:00 am to 5:00 pm (AEST)


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