February 15, 2021 @ 5:30 am - January 2, 2025 @ 5:30 am$275
The final part of the audit process is to form an audit opinion and prepare the audit report. The results of the audit are then communicated. Reporting in connection with the SMSF audit involves several dimensions and various parties.
These reporting obligations must be understood to ensure that auditors meet their professional obligations, discharge their duty to the regulator, and equip trustees with a timely and informative report. Penalties apply under the SIS Act for non-compliance with the auditor reporting requirements. This topic looks at the practical application of these areas with regards to Part A and Part B of the SMSF audit.
On completing this module, participants should be able to:
- understand the structure and components of the SMSF audit report
- apply the modification of an auditor’s opinion
- understand the auditors’ reporting obligations under the SIS Act and the audit standards
- explain and apply the auditor’s reporting obligations to the ATO as the regulator.