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SMSF auditor compliance program findings for 2016-2017
Craig Blair, who is responsible for oversight of SMSF Auditors at the ATO, talks to Claire Grayston at CPA Australia about the ATO’s SMSF auditor compliance program findings for the 2016-2017 year. Craig discusses the outcomes from the ATO’s focus on low cost auditors and sole practitioners who provide both tax advice or accounting services to SMSFs as well as the audit. He also identifies the ATO’s focusses for 2017/2018, how the ATO is identifying high risk auditors and highlights ways in which the ATO are seeking to work co-operatively with SMSF trustees and their auditors. The recent Super changes present new risks for SMSF auditors, including low cost SMSF audits that are seen as high risk by the ATO and may trigger an inspection. Craig explains what auditors need to look out for in their 30 June 2017 year end audits.
Host: Claire Grayston, Policy Adviser - Audit & Assurance, CPA Australia
Guest: Craig Blair, Director - Superannuation, ATO