ASIC has announced changes to the way prospective SMSF auditors apply for registration, with a view to streamline and simplify the process.
ASIC commissioner Greg Tanzer says the changes were part of the regulator’s commitment to improve the client experience.
“ASIC is continually reviewing how we can improve the services we provide the community. If we can reduce the time required for what should be straightforward auditor registrations, this allows us to assess an application faster with the benefit of all information being available from the outset,” Mr Tanzer said.
Since July 2013, registration with ASIC is a requisite for those who wish to become an SMSF auditor. The registration process involves passing a competency examination and meeting a ‘fit and proper person’ test.
Applicants are reminded to use the checklist on the ASIC website to ensure they provide all the necessary information.
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