Spate of SMSF auditor changes prompt new membership launch
In response to the government’s proposal to extend the SMSF annual audit to three years, the Australian Self-Managed Super Fund Advocates has announced plans to launch a new type of membership for specialist SMSF auditors.
SISFA managing director Michael Lorimer said the decision to create the new membership class follows the proposal by the government in the Federal Budget to reduce the frequency of audits for certain SMSFs to once every three years.
“As a result of SISFA’s subsequent interactions with the SMSF community, we determined that the audit function and the interests of auditors were not being adequately analysed and represented,” said Mr Lorimer.
“Our policy on the proposal will be released shortly, as consultation continues. Our new membership offering will enable SMSF Auditors to have a collective voice to ensure that the regulatory framework for SMSFs is safe, practical and workable, and that it will enable a secure platform for the benefit of more than one million Australians who own an SMSF.”
Mr Lorimer said further details on the membership services will be released in the coming weeks.
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.