Audit of SMSFs - SIS Compliance Auditing Workshop

SMSF audits, the SIS Act & SIS Compliance

Locations  Event dates   
Sydney Thursday, 23 October 2014 Register
Melbourne  Friday, 24 October 2014 Register
LiveOne Series Register
LiveOne Session 1 Monday, 24 November 2014 Register
LiveOne Session 2 Tuesday, 25 November 2014 Register
LiveOne Session 3 Wednesday, 26 November 2014 Register


Stay up-to-date with the latest SIS compliance rules and audit requirements to ensure your clients’ Self-Managed Superannuation Fund (SMSF) audits are in safe hands. This workshop supports you in fulfilling the professional accounting bodies' ongoing audit competency requirements (Regulation 7), by keeping you up-to-date with the latest standards and rulings.

Designed for experienced SMSF auditors who work within small to medium accounting firms conducting SMSF audits, this face-to-face workshop is interactive and explores the audit scenarios you may encounter when conducting SMSF audits.

LiveOne online training

The popular Audit of SMSFs - SIS Compliance Auditing Workshop is also offered as three 2-hour LiveOne online training sessions. The sessions will provide delegates with an overview of the key audit issues and what is required for 2014 SMSF Audits. It will focus on the changes for the 2014 year, the changes in forthcoming rules and the ATO approach to auditors and audit reporting.

Case study materials will be provided in advance of the training dates to ensure you get the most from the sessions. You should come prepared to ask questions based on your reading of the case study materials.

Session Timetable

  • Date & Time: Friday, 24 October 2014 9:00 am - 4:30 pm
  • Venue: Institute of Chartered Accountants Australia
    Level 3, 600 Bourke Street
    Melbourne Vic 3000

Friday, 24 October 2014

Time Session CPE HRS
8:30 - 9:00 am Registration
9:00 - 4:30 pm Workshop 6

Learning Outcomes

Learning outcomes:

Using practical scenarios, this workshop will review some of the SIS compliance aspects of a SMSF audit. At the completion of this face-to-face workshop or three part LiveOne online training series delegates will have a thorough understanding of:

  • The skills and knowledge to conduct an audit under the current SIS compliance audit requirements and understand their application
  • An understanding of the impact of new compliance audit requirements and any new legislative changes
  • Some of the more challenging scenarios you may face in conducting SMSF audits
  • The auditor’s reporting obligations.

Who should attend:

This specialist SIS Compliance Auditing Workshop is designed for experienced SMSF auditors who work within or advise small to medium accounting firms providing SMSF audits. This workshop will benefit those seeking to satisfy the professional accounting bodies’ ongoing SMSF auditor competency requirements.


Bonus Offer

Audit Guide and Toolkit for SMSFs 2013

Delivering practical information and tools for immediate application, the 2013 edition of the Institute's Australian Audit Guide and Toolkit for SMSFs assists audit practitioners in dealing with the demands of this challenging area.

Register for either the face-to-face or LiveOne sessions before 1 September 2014 to receive the special delegate price.

Delegate                $196.01* ($280.01* RRP)

(Published by Thomson Reuters)

*All prices are in AUD and include GST where applicable.

Note: Once registered the Institute will email the details for obtaining the special purchase price.

Workshop Inclusions

Delegates will receive: 

  • PowerPoint slides
  • A detailed case study to work through.

Delegates are required to bring a calculator to this workshop.

Package & Pricing


  • Standard $630.00
  • Regional $504.00


  • Standard $756.00


Early Bird: Applicable for registration received with full payment by the early bird closing dates: Perth - 14/02/14, Brisbane - 24/02/14, Melbourne - 06/03/14, Sydney - 07/03/14, Adelaide - 10/03/14. Applies to face-to-face workshops only.

Regional: Members in regional areas (125km from venue) and/or travelling interstate. Applies to face-to-face workshops only.

All prices are in AUD and include GST. Only one discount is applicable at a time, ie. discount offers cannot be combined. Each face-to-face workshop includes morning tea, lunch and afternoon tea.

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Register and pay with your Chartered Accountants American Express Card - the Institute's preferred payment option. For more information, visit

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Session Description


The SIS Compliance Auditing Workshop will follow the audit of the Cinders & the Prince Super Fund for three years, covering off on the following technical issues:

  • Compliance auditing standard & fund administration
  • Contributions
  • Investments
  • Benefit Payments - specifically 
  • Auditor Reporting.

SIS compliance

  • Compliance Auditing Standard
  • Definition of a SMSF
  • Fund administration.

Contribution rules

  • When can a contribution be accepted?
  • When can contributions be refunded?
  • Taxation consequences for contributions.

Investment rules

  • Investment Strategies & Investment Restrictions
  • Collectible assets and sole purpose test
  • Investment structures, related parties & limited recourse borrowing arrangements (LRBA)
  • Provision of Financial Assistance.

Payment rules

  • Auditing Pensions & Benefits
  • Income tax consequences for pensions & benefits
  • Audit issues for death benefits.

Auditor reporting

  • The Audit Report
  • Reporting to tustees
  • Reporting to the ATO.


  • Shirley Schaeffer

    Shirley Schaefer FCA

    Partner, BDO Advisory (SA) Pty Limited

    Shirley Schaefer has over 20 years of experience as a Chartered Accountant, joining the South Australian firm in 1994 and becoming a Director in 2001. Shirley has a broad base of compliance experience having been involved in the audit of superannuation funds and other companies in the financial services sector and provides advice and interpretation of superannuation legislation.

For more information

Last Updated 30 November 2012