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.
I can’t believe this – i get two messages – this one and one from SMSF Engine owned by NTAA
“You can use us for one fund or 100 and there is no obligation. Fees for Administration and Audit start from $825.”
If anybody thinks that their auditor is independent – then they need to get their head examined or start working for ATO