SMSF Association Submission
The SMSF Association welcomes the opportunity to provide this submission in response to the APES Board’s revised exposure draft 01/22 regarding auditor independence and fee dependency on a referral source. We also thank the APES Board for their engagement and considered approach following the original ED 03/21 consultation.
We note that this consultation seeks feedback on the “potential action to be taken where the threshold and cumulative time period are met.”
The proposed AUST R410.14.2 lists three options for consideration:
- A review (performed by an appropriate reviewer as per proposed paragraph 410.14 A7);
- A review (as per ASQM 2); or
- A compliance engagement audit(as per ASAE 3100)