Auditor changes for SMSFs

From 1 July 2013, SMSF auditors have to be registered with ASIC.

In the 2012 tax return, there is a place to add this auditor number. It is only from 1 July 2013 that we can add a number in there. The new registration process with ASIC opens on 31 January 2013. There is a new ASIC website setting out the new rules on auditors. To view this page, click here.

ASIC released guidance to assist auditors to understand the new SMSF Auditor competency standards. This is set out on the ASIC website under the document RG243, describing the auditor requirements.

Note that Superannuation Warehouse use auditors that abide with these new rules.

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