News : Auditing

Auditing, Education

Auditors Institute releases new course

The Auditors Institute will bring to market a new course for practitioners to develop their superannuation and compliance knowledge.

The Auditors Institute will bring to market a new course for practitioners to develop their superannuation and compliance knowledge.

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ATO, Auditing, Documentation

Auditors prompted over evidence

Some SMSF auditors are still not providing adequate evidence in their reviews, prompting the ATO to issue a reminder to comply.

Some SMSF auditors are still not providing adequate evidence in their reviews, prompting the ATO to issue a reminder to comply.

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Auditing, Documentation

ATO reminder on representation letters

The ATO has reminded SMSF auditors that audits need to include a signed and dated trustee representation letter.

The ATO has reminded SMSF auditors that audits need to include a signed and dated trustee representation letter.

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ATO, Auditing

Fewer auditors not a quality concern

A noticeable reduction in the number of SMSF auditors over the past five years does not translate into a diminished quality of service provided.

A noticeable reduction in the number of SMSF auditors over the past five years does not translate into a diminished quality of service provided.

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ASIC, Auditing

Auditor number drop was expected

The dramatic reduction in SMSF auditor numbers over the past 10 years is not as worrying for the sector as it appears at face value.

The dramatic reduction in SMSF auditor numbers over the past 10 years is not as worrying for the sector as it appears at face value.

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ATO, Auditing

In-house audits still on ATO radar

The ATO has found the number of in-house audits carried out by registered SMSF auditors is still too high.

The ATO has found the number of in-house audits carried out by registered SMSF auditors is still too high.

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ASIC, Auditing, Compliance

ASIC acts against 28 SMSF auditors

Failure to meet professional obligations and standards has resulted in disqualifications and cancellations for more than 25 auditors.

Failure to meet professional obligations and standards has resulted in disqualifications and cancellations for more than 25 auditors.

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Auditing, SMSF

Audit Peer Review Panel launched

The Auditors Institute has formed a panel of professionals with whom practitioners can engage to have a peer review undertaken for them.

The Auditors Institute has formed a panel of professionals with whom practitioners can engage to have a peer review undertaken for them.

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Auditing, Compliance, Crypto Assets, Cryptocurrency, Digital assets, Legislation, Regulation

Crypto valuations rigorous for auditors

The procedures the ATO has stipulated auditors must follow with regard to the valuation of SMSF cryptocurrency assets are quite arduous.

The procedures the ATO has stipulated auditors must follow with regard to the valuation of SMSF cryptocurrency assets are quite arduous.

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ATO, Auditing, Compliance

ATO specifies ACR lodgement timing

New guidance from the ATO has reminded auditors to lodge an ACR in the year they identify a breach has occurred to ensure trustee compliance.

New guidance from the ATO has reminded auditors to lodge an ACR in the year they identify a breach has occurred to ensure trustee compliance.

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