Navigating SMSF auditor compliance in 2020/21

Technical Summit 2020

A behind the scenes look at the ATO’s Compliance Program results for 2020 and what’s new for 2021. Find out why the ATO is referring auditors to ASIC and understand the practical implications of what needs to be done.

The session will also cover how to verify the market value of risky assets during COVID-19; what to look for in e-signatures; the impact of the new joint independence guidelines on SMSF audit firms and how the ATO intends to apply administrative penalties in 2021.

At the end of the session, you will be able to:

  • Determine the appropriate requirements to meet the ATO’s compliance program;
  • Apply high-level SMSF auditing concepts to practical situations, and;
  • Describe how to comply with the new independence requirements.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association