**This series is now full. The next Audit of SMSFs series will commence on 9 November 2010, details will be available on our website soon at www.charteredaccountants.com.au/LiveOne.**

With the impact of the Global Financial Crisis, improving markets and Audit standards in clarity format effective of 1 January 2010, it is essential for auditors of Self Managed Super Funds (SMSFs) to stay up to date with the constantly changing SMSF landscape.

This series will cover all aspects of the audit addressing clarity auditing standards affecting the SMSF audit, SIS compliance and emerging issues in the SMSF area, whilst working through a work program. These sessions will use case studies to demonstrate the application of the concepts.

This series satisfies initial competency requirements.

Audit of SMSF series program:

Session 1 – Regulatory Overview

• ATO regulatory approach
• Changes in the legislative environment
• Client acceptance and retention
  • Trust deed
  • Residency
  • Independence

Session 2 – Planning, Controls and Review

• Planning
  • understanding the entity
  • risk identification
  • documenting controls
  • preparing a work program
• Controls evaluation and testing
  • testing controls
  • reliance on the work of another auditor
• Analytical review

Session 3 – Substantive Testing

• Documentation
• Decision making
• Sole purpose
• Investments
• Contributions

Session 4 – Substantive Testing and Reporting

• Benefits
• Tax
• Forming an opinion.
• SIS Compliance reporting
• Guide to completing the auditor contravention report

Only available as a full series of four sessions.

Who should attend?
Auditors in small to medium firms.

Delegates attending the Audit of SMSF series will obtain:

• A working knowledge of the recent changes to the ASAs and how they affect their SMSF audits
• A clear understanding of the auditor obligations and reporting requirements in auditing a self managed super fund
• The skills and knowledge to conduct an audit under the current regulatory requirements
• A detailed understanding of the procedures to undertake to address auditing standards for a financial report and compliance audit
• Competently design an audit program that complies with requirements

This series includes the following sessions

Audit of SMSFs - Session 1 - Regulatory Overview

Audit of SMSFs - Session 2 - Planning, Controls and Review

Audit of SMSFs - Session 3 - Substantive Testing

Audit of SMSFs - Session 4 - Substantive Testing and Reporting