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Subject overview

This course is no longer accepting new student applications. Single subject enrolments will be open until Study Period 6 2022. Contact us for further details.

This subject meets part of the compliance requirements to become a Registered SMSF Auditor.

Students will examine the requirements of the Australian Auditing Standards and how they should be applied in a SMSF audit. In addition, the practical relationship between the Superannuation Industry (Supervision) Act 1993 (SIS) compliance audit of an SMSF and the Auditing Standards will be analysed.

Specifically, the subject covers the auditor’s reporting obligations in relation to SIS compliance to both the trustees and the Australian Taxation Office.

To be eligible to apply for the SMSF Specialist Auditor (SSAud) designation with the SMSF Association you must successfully pass the examination for this subject.

For more information, please refer to the subject outline.

Subject information

Learning Outcomes

On successful completion of this subject, you should be able to:

  • Undertake research on significant SMSF auditing issues
  • Apply the Auditing Standards to identify compliance issues in an SMSF
  • Complete an SMSF audit that is compliant with both Australian Auditing Standards and SIS Regulations
  • Create the required Australian Taxation Office reports and Fund reports

 

Topics covered

  1. Being a SMSF auditor
  2. Audit standards
  3. Preliminary engagement activities
  4. Planning and risk – identification, assessment and response
  5. Conducting the audit – Part A
  6. Conducting the audit – Part B
  7. Auditor reporting

 

Continuing professional development (CPD)

Please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

Reading list

  • Schaefer, S 2017, Australian audit guide and toolkit for self managed superannuation funds, 8th edn, Thomson Reuters, Sydney.

Retailers of educational books include Co-op Bookshop and Boffins Bookshop. Texts can also be borrowed from the Kaplan library or other libraries. Details of required and further reading are provided in the subject room.  Purchase of any text other than a prescribed text is not required.

Reading list

Assessments

Assessment TypeAssessedWeighting
AssignmentWeek 640%
ExamWeek 1260%

Previous study requirements

Prerequisites

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