Revised GS009 released by the AUASB for SMSF Auditors

Guidance Statement 009 Auditing Self-Managed Superannuation Funds has been re-released by the Auditing and Assurance Standards Board (AUASB). The revised guidance statement will assist SMSF auditors in complying with the new Auditing Standards and ATO requirements released since GS 009 was initially issued in 2008. It is a practical guide for SMSF auditors and has been updated for:

• The new suite of 'clarity' Auditing Standards which became operative for reporting periods that commenced on or after 1 January 2010 
• Australian Taxation Office (ATO) current requirements applicable to the 2010/11 reporting year 
• Current superannuation legislation updates; and 
• Practical issues that may be encountered on SMSF audits.

GS009 is available from the AUASB website.

Article last updated 23 December 2011