Auditor changes for SMSF’s

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

In the current 2012 tax return there is a place to add this auditor number. It is only from this 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 will abide by these new rules.

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