Guidance on auditing SMSFs

Key Points

• The Institute’s latest SMSF audit guide is now available
• The updated guide gives details on the latest developments for SMSF auditors
• Members can purchase the guide at a discounted rate by logging into our website.

In the changing world of audit, the Institute is helping members who are self-managed super fund (SMSF) auditors stay up-to-date on the developments in this space. Our latest Australian Audit Guide for Self Managed Superannuation Funds is now available for purchase on the Institute website.

The Institute’s Head of Superannuation, Liz Westover, says the guide is an excellent tool for members to keep abreast of the changes taking place in the audit industry, with emphasis on their application to SMSFs.

'The guide discusses the new developments for SMSF auditors, particularly in reference to new auditing concepts, changes in scope and reporting requirements and revised standards. Chartered Accountants are obliged to adhere to auditing standards for all audits, including SMSFs, and this guide will assist them to meet those requirements,' Ms Westover says.

The guide, which is the second version the Institute has produced, contains a CD with downloadable forms in Word or Excel format for members’ use.

Members can purchase the guide at a discounted rate by logging into our website. We also invite members to provide any feedback via email.

Article last updated 23 December 2011