Additional regulations and tightening restrictions amplify the need for SMSF auditors to address the more complex issues arising from SMSF audits.
With additional regulations and changes in the complex SMSF sector, auditors of SMSFs need to remain informed of new legislation and auditor obligations.
This workshop will further explore the complexities of SMSF audits and builds on the Audit of SMSFs Competency Workshop, providing an update on the current audit requirements from a professional standards and ATO perspective.
Practical and interactive, the Advanced Workshop supports your ongoing audit competency requirements and helps you to continually improve audit quality.
Session 1: Contributions
With constant changes to the contribution rules, what is it that that auditor has to check?
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What are the contribution rules?
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What does the auditor need to check?
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Why are we concerned with tax issues?
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How do Excess contributions work?
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When is a ‘mistake’ made?
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When can contributions be refunded?
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Pending / new contribution issues
Session 2: Investment rules
This workshop looks at specific SMSF investment rules and the audit issues that can arise from them.
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The Sole Purpose Test
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Collectibles – what are the new rules?
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Related parties
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In house assets and transitional provisions
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Loans and limited recourse borrowing arrangements.
Session 3: Auditor Reporting
The SMSF auditor has multiple reporting obligations, including forming an opinion on financial statements & SIS compliance, reporting to the trustee and reporting to the ATO. This workshop examines the different reporting obligations and in particular the ATO’s requirements for reporting. The session includes two case studies on SMSF auditor reporting.
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The auditor’s reporting obligations
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Auditor Reporting Thresholds
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Auditor Contravention Reports
Session inclusions
All delegates will receive a copy of the presentation and any handouts.
CPE Hours
Earn 2 CPE hours per session (6 CPE Hours for the entire 3 part series)
Register for the 3 part Series to receive 10% off the individual session pricing.
This series includes the following sessions
Audit of SMSFs - Advanced Workshop - Session 1: Contributions
Monday 2nd April 2012, 12:30pm to 2:30pm (AEST)
Audit of SMSFs - Advanced Workshop - Session 2: Investment rules
Tuesday 3rd April 2012, 12:30pm to 2:30pm (AEST)
Audit of SMSFs - Advanced Workshop - Session 3: Auditor Reporting
Wednesday 4th April 2012, 12:30pm to 2:30pm (AEST)
