Your ongoing obligations as an SMSF auditor
As an approved SMSF auditor, you must comply with ongoing statutory obligations and any conditions of your registration.
Your obligations
You must:
- keep your details up-to-date with us
- lodge your annual statement with us
- complete the prescribed ongoing professional development
- hold the prescribed professional indemnity insurance.
You must also comply with:
- any conditions imposed on your registration
- the auditor independence requirements set out in APES 110 Code of Ethics for Professional Accountants produced by the Accounting Professional & Ethical Standards Board Limited
- the applicable auditing, or auditing and assurance, standards issued by the Auditing and Assurance Standards Board (AUASB)
- any SMSF auditor competency standards issued by ob体育.
For more information, see Regulatory Guide 243 Registration of self-managed superannuation fund auditors (RG 243).
Monitoring and enforcement
The Australian Taxation Office (ATO) monitors SMSF auditor compliance. Refer
We will investigate any compliance matters the ATO refers to us. If we determine that the SMSF auditor has been non-compliant, we may:
- impose or vary conditions on the SMSF auditor's registration
- accept an enforceable undertaking
- cancel the SMSF auditor's registration, or
- disqualify or suspend the auditor from being an approved SMSF auditor.
Related information
- Regulatory resources for SMSF auditors
- Lodging your annual statement
- Updating your details and submitting requests to ob体育
- ob体育鈥檚 SMSF auditor competency standards (ob体育 Class Order [CO 12-1687] Competency standards for approved SMSF auditors)
- Applying for relief
We are always looking to improve our information for SMSF auditors so we would like to know what's important to you. Please leave us some feedback.