For some time, the ATO has been aware of concerns from the SMSF auditing community that their registered auditor numbers have been used on SMSF annual returns when they were not responsible for that particular fund.
Auditors can now email atosmsfauditorteam@ato.gov.au if they have concerns about their auditor numbers being misused, and they will be sent a list of the annual returns on which their numbers have been recorded, ATO assistant commissioner Kasey Macfarlane told an SMSF Association event in Sydney this week.
There have been a few instances where discrepancies have been detected and the ATO is undertaking further investigation as to the cause behind it – acknowledging that it can be, in part, due to administrative error.
“The concern for us if people have recorded registered auditor names in the SMSF annual return when in fact that individual isn’t their auditor, they haven’t undertaken the audit and they have deliberately put that auditor’s number on the form,” Ms Macfarlane told SMSF Adviser.
“It is something that we are chasing in the near future. It is something that has significant impact if we were to discover – which of course we haven’t at this stage and not expecting to – that it was widespread.
“Then that would raise some issues around the integrity of some of the SMSF audit processes and in turn raise concern about compliance within the sector more generally. This is something we will be giving high priority to.”
I agree with Cheryl.
It’s disturbing that the ‘trusted professionals’ are dodging the system in this way. Just imagine if it were financial planners carrying on in such a manner. I guess that’s the difference between ASIC and the ATO, which many accountants who continue to provide unlicensed advice will find out.
Auditors should have access to their Audits on the ASIC website, just like tax agents have access to all clients. That will solve a few administrative issues and ensure illegal use of Audit numbers.
thee public comments differ to reality . The Tax practitioners Board refuses to act on complaints in respect to tax agents lodging tax returns were no audit has occurred and the ATO has failed to pursue any accountant or tax agent for lodging a tax return when no audit has occurred . the ATO does not follow up any complaint due to tho the low risk nature of the offence . The ATO is out of touch and does not care
Why don’t the ATO simply send out a list every year to each registered auditor outlining all funds which were supposedly audited by that auditor in the past 12 months. Problem solved!
Due to “privacy concerns” I believe (ridiculous I know!)