About Author

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David Saul

As a long-standing member of the Self-Managed Super Fund Association of Australia Limited (formerly known as SPAA), the peak body for SMSF professionals, David was one of the first in Australia to achieve the SMSF Specialist Advisor™ accreditation from the SMSF Association (formerly known as SPAA).

Author Posts

230 Tax Agents have mis-used SANs in the latest count

The ATO is continuing its program to weed out the mis-use of SMSF Auditor Numbers (SAN) where tax agents are in effect masquerading as auditors.

The ATO mailed the 2018 annual...

Why your Auditor can’t be in your pocket!

ATO clarification on Reciprocal Arrangements

Can SMSF Auditors continue reciprocal arrangements under the new Independence Code?

The view of both the ATO and ASIC is that threats to independence arising from reciprocal arrangements are so...

The Client Perspective on the new Code of Ethics: It’s all about communication

The new APES 110 Code of Ethics for Professional Accountants has many ramifications for SMSF trustees… and Accountants have an obligation to notify clients of changes that may affect their audits.

Under the...

“Routine and mechanical” is not a loophole

The new Independence Guide clarifies that an auditor cannot audit an SMSF if they prepared the financial statements for the SMSF unless it is a “routine or mechanical service”, however the...

Audit Independence and Reciprocal Arrangements

Reciprocal auditing arrangements where SMSF firms enter into audit arrangements for one another risk breaching new independence requirements, the ATO has clarified.

The restructured Independence Guide in the APES 110 Code...

Trustee responsibility, professional judgement and the new rules for SMSF audit

A new Independence Guide for SMSF auditing has become mandatory for audits in Australia. The Guide incorporates changes to the restructured APES 110 Code of Ethics for Professional Accountants...

Clarity on Chinese Walls & Audit Independence

No ambiguity – Chinese walls are out!

The recently released APES 110 Code of Ethics for Professional Accountants including Independence Standards makes it clear that Chinese walls do not...

Grow your SMSF practice

Accountants are bullish about the SMSF sector according to the recently released “2020 SMSF Accountant Report”, with surveyed accountants reporting an opportunity to grow their SMSF client-bases by 35%, increasing from an...

Take the Industry Survey: Adapting to a Covid-19 Environment

Accounting and SMSF Firms are facing many challenges in adapting to a COVID-19 environment.

On the one hand, there is the requirement to quickly adapt to managing teams working from...

Catfishing Exposed – SMSF auditor number fraud

Further SAN mis-use reported to TPB

A further 90 tax practitioners have either deliberately or mistakenly mis-used an SMSF auditor number, with the ATO detecting over a thousand instances of...

Rent relief during Covid 19 crisis

While under normal circumstances, SMSF rentals are required to be at proven market rates, due to the financial effects of the coronavirus pandemic, the ATO...

SMSF Auditing – What to expect in 2020

The ATO has been clear about what to anticipate in 2020 as Kellie Grant, ATO Director of SMSF Auditors Portfolio recently gave these key insights as to the ATO...

Non-arm’s length expenditure and SMSF Audit

The government has recently passed legislation that gives clarity around the effect of SMSF non-arm’s length expenditure (NALE). Where a fund incurs less (or nil) expenditure by participating in...

Would you pass the test on SMSF audit independence?

Do you have a potential issue with SMSF audit independence? If so, it’s not viable to turn a blind eye. Now is the time to ascertain whether your audit arrangements...

Catfishing Exposed – SMSF Auditor Number Fraud

Mis-use of Auditor Numbers

Over 600 tax practitioners have either deliberately or mistakenly mis-used an SMSF auditor number, with the ATO detecting over a thousand instances of potential fraud.

“Some practitioners...

ATO Policing Audit Independence

Independence breaches redefined

ATO targets firms who provide both SMSF advice & audits

Independence is a key issue in the ATO Compliance Program and SMSF advisers who also conduct audits face...

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