ATO hits up 400 SMSF auditors

The ATO has recently made contact with approximately 400 SMSF auditors as part of its ongoing monitoring of auditor compliance and independence.

An ATO spokesperson told SMSF Adviser the auditors were contacted to remind them of their obligations in relation to independence, and they were subsequently asked to complete a questionnaire.

“Based upon questionnaire responses received to date, only a small number of the 400 contacted indicate potential risks to auditor independence that may require further follow-up,” the spokesperson told SMSF Adviser.

“The ATO monitors SMSF auditor compliance and independence through a range of compliance activities and where we have concerns we will refer these to ASIC for consideration and possible enforcement action,” the spokesperson added.

SMSF Adviser contacted ASIC, but the regulator declined to comment.

This news follows ASIC disqualifying three SMSF auditors last week, including Manoj Abichandani, Abe Samuel and James Dermody.

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