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SMSF Audit Workshop

Ashley Course - ARC Super

Monday, 27 November 2017 from 9:00 am to 5:00 pm (AWST)

SMSF Audit Workshop

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.
3d 1h 2m $359.00 $0.00
Non-Member 3d 1h 2m $449.00 $0.00
* Prices include GST

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Event Details

Fundamental Principles & Practice of SMSF Audit (AM); and

Advanced SMSF Audit (PM)

Introduction & Overview

(AM) Registered SMSF auditors are required by legislation and professional standards to comply with Australian auditing and assurance standards when conducting their audits. The problem is the volume of standards, and the difficulty in finding the time to develop an understanding of such. Accordingly, we often hear from auditors selected for an ATO or accounting body review who are concerned as to whether they have been doing the right thing and what may happen if found to have failed to comply with the mandatory requirements.
This workshop will go through the step by step process needed to conduct a SMSF audit in accordance with the Australian auditing and assurance standards, commencing with accepting the engagement through to issuing the auditor’s report, including the mandatory planning, risk assessment and substantive procedures, and audit evidence requirements.

(PM) SMSF auditors often encounter complex situations leaving them confused and scared of the possible consequences of ‘getting it wrong’. 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 types 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.

 

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:

(AM Session)

1.  ATO compliance targets for 2017/18
2.  Technological changes and the push for reliance on data fed information
3.  The 'Audit Process', from accepting the engagement to completing the audit
4.  'Risk Identification', the greatest contributor to 'Audit Risk', and the implications
5.  Substantive testing procedures...these extend beyond inspection of detail
6.  Audit evidence, including sampling, and what is considered sufficient appropriate evidence

(PM Session)

1.  The audit implication of the Transitional CGT Relief provisions
2.  Related party and private company and trust investments
3.  Property development by the SMSF
4.  Pensions and member benefits


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 Workshop? Contact Ashley Course - ARC Super

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When & Where

Level 4, 1008 Hay Street
Perth, WA
Australia

Monday, 27 November 2017 from 9:00 am to 5:00 pm (AWST)


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