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How Australia perceives competition in Auditing

WHO SHOULD COMPLETE THIS REPORT?

You should use this report if you:
  • are an approved auditor, and
  • have been appointed by a trustee of a self managed superannuation fund (SMSF) to give a report on the operation of that fund for each income year.
An approved auditor is:

  • a registered company auditor
  • a member of CPA Australia Limited
  • a member of The Institute of Chartered Accountants in Australia
  • a member of the National Institute of Accountants
  • a member or fellow of the Association of Taxation and Management Accountants
  • a fellow of the National Tax and Accountants Association Ltd, or
  • the Auditor-General of the Commonwealth, a State or Territory.
It is essential that you are independent from the SMSF’s decision making process. You must be independent and also appear to be independent. These are fundamental requirements for every audit.

Blog posted by RV

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