SMSF Audit & Compliance
Online Workshop 2020

The essential 2020 audit issues you need to know

3-part live online series: Fridays: 16, 23 & 30 October
Bonus Q&A session on 6 November 2020

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Need group rates? Call (or email) Lee Marshall on 02 8916 4212

Reduce the COVID-19 risks of delivering SMSF audit and compliance services

Navigating the raft of COVID-19 related changes presents a new set of challenges for SMSF auditors; even a small oversight or lack of procedural integrity can prove costly.

In addition to the COVID-19 related impacts, we’ll also take you through:

  • Updated ATO advice on SMSF valuation requirements and what is acceptable
  • Auditor independence and the changes to APES 110 - including the ATOs compliance approach
  • Business real property and related party lease arrangements
  • Total super balance and what it means for an auditor
  • Updated ACR guidelines and 2020 Audit report

If you want to be certain about your audit and compliance procedures, join us for this pragmatic online workshop.

Designed for SMSF auditors and advisers, the SMSF Audit & Compliance Workshop brings you up to date with recent developments and what they mean to SMSF auditors and advisers right now, what you can expect to see, and what to do about it.

Prepare to be challenged.

An excellent training day for team members or a refresher to keep you on top of change.

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Knowledge Shop members, login for the discounted rates

4 part live online series

Fridays:
Session 1: 16 Oct 2020
Session 2: 23 Oct 2020
Session 3: 30 Oct 2020
Bonus Q&A: 6 Nov 2020

11:00am - 1:00pm NSW VIC
10:30am SA & NT
10:00am QLD
08:00am WA

Recording access for 3 months
Reference notes included

SMSF Association points pending

What we cover

The SMSF Audit & Compliance Workshop is a pragmatic and realistic work through of the key SMSF issues. We show you how to work through 2020 audits, the key issues coming out of an audit and how to respond, and the implications of change on you, your practice and your clients.

The COVID-19 impact on 2020 Audits + SMSF Auditor Independence

2020 is dominated by COVID-19. We’ll cover the details and the impact on SMSF audits, including:

  • Early access to super
  • Related party limited recourse borrowing arrangement relief
  • Temporarily reducing super minimum payment amounts
  • Providing rent relief
  • Super balance losses
  • SMSF residency
  • In-house asset restrictions
  • Investment strategies.

SMSF Auditor Independence

Your essential update on the latest ATO guidance on their compliance approach to SMSF auditors.

What you need to know about the May 2020 SMSF Auditor Independence guide released by the Accounting Professional & Ethical Standards Board (APESB).

16 October 2020, 11am-1:00pm

 

The Financial Audit

The Financial Statement Audit

Your audit plan and audit program:

  • The impact of accounting standards and notes to the accounts
  • Evidence expectations
  • ATO focus areas
  • Property and loans
  • Allocation of pension payments and lump sums
  • Determining market valuations of unlisted assets

The ATO’s Updated Position on NALI expenses

  • A deep dive into LCR2019/D3
  • The implications of non-arm’s length expenses

Identifying Related Parties & Where Transactions Must Be At Arm’s Length

  • ATO focus area - Related trust transactions that can lead to non-arm’s length income
  • Related party transactions
  • Interest-free loans

Contravention Reporting Obligations

  • What you need to report and why
  • How the reporting rules apply in real life
23 October 2020, 11am - 1pm

 

The SIS Audit

All of the SIS requirements including:

  • Meeting the definition of an SMSF
  • Sole purpose test
  • Investment strategy
  • Segregation of assets
  • Your audit program
  • Dealing with breaches, what to advise the trustees and when you have to issue a contravention report
  • Requirements of your management letter
  • The latest ATO audit activity
30 October 2020, 11am - 1pm

All the questions answered

A special bonus Q&A session.

The SMSF Audit & Compliance workshop will raise a lot of questions. This bonus session is designed to ensure that all of your questions are answered and you are equipped to tackle the 2020 year and beyond.

6 November 2020, 11am AEDT

 

What's included?

  • 4 part online workshop series with 3 months access to the recording
  • The 2020 SMSF Audit & Compliance reference manual
  • Your audit documentation pack: Engagement letter, Audit plan, Financial statement audit program, Compliance audit program, Trustee representation letter, Audit finalisation report (management letter), Checklists, Pro forma letters and minutes, Contravention report process

Ray Itaoui
Director, Hayes Knight

Ray is a Director of Hayes Knight and a registered SMSF Auditor with extensive experience in the audit, accounting and administration of superannuation funds.

Ray has expanded Hayes Knight’s Superannuation Division considerably over the last few years. As the head of the SMSF division, he has developed and implemented the processes and procedures to create an efficient, accurate and proactive SMSF compliance, administration and audit service. In addition to his work with Hayes Knight, Ray also heads Hayes Knight’s SMSF audit and administration outsourcing company, Superssentials Pty Ltd. Superssentials is a high quality, Australian based service that ensures there will be no nasty surprises for accounting firms across Australia and the clients they refer.

Ray is that rare breed of person who is not only practical but detail conscious with an in-depth understanding of the impact of the regulatory environment faced by the profession.

Conrad Gilbert
Director, Hayes Knight

Online series

Fridays - 16, 23 & 30 October 2020 (and bonus Q&A session on 6 November 2020)
11:00am - 1:00pm AEDT NSW & VIC, 10:30am SA & NT, 10am QLD, 08:00am WA

Need group rates? Call (or email) Lee Marshall on  02 8916 4212.

Member

Per person for 4 part online workshop series
Reference notes included and the recording for 3 months

  • $420 Individual Online Workshop - Knowledge Shop Member
Member Register

Non-Member

Per person for 4 part online workshop series
Reference notes included and the recording for 3 months

  • $499 Individual Online Workshop
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Terms & conditionsAll registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the online workshop. No credits are available less than 2 hours prior to the event under any circumstances.