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SMSF Audit Workshop

Ashley Course - ARC Super

Wednesday, 21 March 2018 from 9:00 am to 5:00 pm (AEDT)

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.
21/03/2018 $308.00 $0.00
Non-Member 21/03/2018 $385.00 $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) 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

(PM) Whilst SMSF compliance issues, i.e. the Part B audit scope, is often at the forefront of discussions and training, we don't generally see the same level of attention given to Part A audit issues, i.e. financial issues.  In addition to some of the more complex compliance issues, this session will discuss in detail the financial report issues raised by both the ATO and industry professionals and the implication on the SMSF auditor with regard to the planning, risk assessment, substantive and reporting procedures..


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.  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 if 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

(PM Session)

1.  Users of the SMSF Auditor's Report, their information needs, and the impact of this on the audit procedures
2.  Part A SMSF audit issues, risks and procedures
3.  Tax planning arrangements and non-commercial transactions - The implication for the SMSF auditor
4.  Technological advancements and the implications for the SMSF auditor resulting from the push to rely on data fed information

5.  SMSFs involved in property development
6.  Related party investments and transactions
7.  SMSF contributions and the implication for the auditor arising from recent legislative changes
8.  Auditing 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

Balmoral on York
19 York Street
Launceston, TAS

Wednesday, 21 March 2018 from 9:00 am to 5:00 pm (AEDT)

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