SMSF Audit & Compliance Workshop 2019

The essential 2019 audit issues you need to know

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The 2019 FY audit requirements
ATO updates and current focus areas
Audit documentation provided

Legal action taken against SMSF auditors is on the rise and recent cases have shown that even a small oversight or lack of procedural integrity can prove costly.

The SMSF Audit & Compliance Workshop is what every SMSF auditor and adviser needs to know right now.

Garth McNally, Director Merit Wealth, shows you how to work through 2019 audits, the current issues and how to respond, and the implications of recent and emerging changes on you, your practice, and your clients.

"Very informative, practical and most importantly - not boring".

2018 attendee

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2019 Dates & Details

Melbourne 11 October | Sydney 16 October | Brisbane 18 October
Perth
28 November

8 PD Hours, 6.5 active PD hours (for ASIC purposes)
SMSF Association accreditation points pending
3/5 difficulty
Reference book included
Bring a calculator and jacket

What we cover

A practical, case study focussed training day where we work through the 2019 audit, the issues to watch out for, and the implications when a client gets it wrong.

2019 Key Audit Areas

  • SMSF valuation issues
  • Paperwork and timing of partial commutations
  • Valuation requirements
  • Related party lease arrangements
  • Payment of death benefits from an SMSF and what to look out for


The Financial Statement Audit

  • Your audit plan and audit program
  • The impact of accounting standards and notes to the accounts
  • Evidence expectations
  • What the ATO will be looking for
  • Working paper expectations
  • Your audit report
  • What value has to be disclosed in the accounts?
  • Meeting APES 320 requirements

The ATO’s Updated Position on Superannuation Death Benefits

  • How death benefits MUST be dealt with post 1 July 2017
  • Audit considerations when funds pay death benefits
  • Cash or rollover? The implications

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

The Compliance 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
  • ATO audit activity

Audit Documentation

Knowing what to do is one thing but having a full document pack that
satisfies quality control, base regulator requirements, and can maintain
operating efficiency, is another.  Attendees receive:

  • 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

“Extremely comprehensive. Garth is easy to listen to and an exceptional presenter."

2018 attendee
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Our Speaker

Garth McNally
Garth McNally
NATIONAL TRAINING & EDUCATION DIRECTOR, MERIT WEALTH

Garth has over 20 years of practical experience in superannuation. He spends most of his time working with accountants and advisers to develop strategies that help their clients get the most out of their SMSFs.

He is adept in the compliance requirements for practitioners, the technical requirements of the laws and regulations, and the very real impact on clients.

Referred to as the ‘super man’, Garth is a recognised and in-demand speaker on superannuation issues and strategies for the leading professional bodies and the Easton Investments group of companies - Knowledge Shop, Merit Wealth, and GPS Wealth.

Investment

Early Bird

Per person

East coast: For payments received by Wed 18 September 2019
West coast: For payments received by Fri 1 November 2019

  • $595 - Member
  • $655 - Non-member
Not a member? Find out more
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General

Per person

East coast: For payments received after Wed 18 September 2019
West coast: For payments received after Fri 1 November 2019

  • $665 - Member
  • $725 - Non-member
Not a member? Find out more
Register Member

Terms & conditionsAll registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are available for cancellations received 14 days or less of the event date under any circumstances. No credits are available less than 4 days prior to the event under any circumstances.

Venues & Times

Melbourne

Friday 11 October 2019
Rendezvous Hotel (map)
328 Flinders Street, Melbourne

Sydney

Wednesday 16 October 2019
Cliftons Sydney (map)
60 Margaret Street, Sydney

 

Brisbane

Friday 18 October 2019
Brisbane Hilton (map)
190 Elizabeth Street, Brisbane

Perth

Thursday 28 November 2019
Duxton Hotel (map)
 1 St Georges Terrace, Perth

 

Time
All workshop sessions
8.30am - 9.00am Registration
9.00am - 5.00pm Workshop

 

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