atrk

Finance Broking Australia-regulatory guide 243 registration of self managed superannuation fund auditors

Select Industry
Regulatory Guide 243 - Registration of self-managed superannuation fund auditors CPD

This guide is for people who wish to audit self-managed superannuation funds (SMSFs) under the Superannuation Industry (Supervision) Act 1993 (SIS Act).

This guide explains how to apply for registration as an approved SMSF auditor, the types of registers of SMSF auditors maintained by ASIC and the transitional arrangements for the registration of existing approved auditors of SMSFs. It also gives guidance on the continuing legal obligations of approved SMSF auditors.

To audit an SMSF on or after 1 July 2013, you must be registered by ASIC as an ‘approved SMSF auditor’: see RG 243.1–RG 243.5. You can apply to register as an approved SMSF auditor from 31 January 2013.

Transitional arrangements will apply between 31 January and 30 June 2013 for existing ‘approved auditors of SMSFs’: see RG 243.7–RG 243.13.

To be registered as an approved SMSF auditor, you must satisfy ASIC that you meet the following eligibility requirements prescribed under the SIS Act and the SIS Regulations, subject to any applicable transitional arrangements:
•    You have the prescribed qualifications (see RG 243.14–RG 243.16);
•    You have the prescribed practical experience (see RG 243.17–RG 243.20);
•    You have passed a competency examination in accordance with s128C (see RG 243.21–RG 243.23);
•    You are unlikely to contravene the obligations of an approved SMSF auditor (see RG 243.24–RG 243.25);
•    You are capable of performing the duties of an approved SMSF auditor (see RG 243.26–RG 243.27);
•    You are a fit and proper person to be registered as an approved SMSF auditor (see RG 243.28–RG 243.30);
•    You have adequate and appropriate professional indemnity (PI) insurance (see RG 243.31–RG 243.35);
•    You are an Australian resident (see RG 243.36); and
•    You do not have certain disqualifications or suspensions in force (see RG 243.37).

To register as an approved SMSF auditor, you will need to complete an online application form, lodge it with us and pay the prescribed registration fee.

Enrol Now

Student Info – AAMC Training Policies

Do you qualify for Credit Transfer /RPL

Contacts

  • Unit 5, 17 Foley Street
    Balcatta WA 6021

    Phone: + 61 8 9344 4088
    Fax: + 61 8 9344 4188
    Email: info@aamctraining.edu.au

System Requirements

  • What computer and software will be needed?
    • Windows XP or Linux based computer with internet connection.
    •  Internet Explorer 8.0 and above OR Mozilla Firefox
    •  Quick Time Player 4 and above
    •  Acrobat reader 6 and above
    •  Adobe Flash Player
    Download speeds
    •  Min 2 Mbps or above speed is required for running video