ASIC warns 185 SMSF auditors to lodge annual statements or their registration will be cancelled

Tue, 28 Jun 2016 21:35:10 +0000

ASIC is sending a final warning to 185 approved SMSF auditors that their registration will be cancelled if their outstanding annual statements are not lodged with fees paid by 22 July 2016.

As part of its compliance program, ASIC contacted SMSF auditors who had not lodged their annual statements. ASIC sent emails and letters and telephoned the auditors using the current contact details provided by them. While most of the auditors responded by lodging their outstanding annual statements and paying their lodgement fees, 185 auditors are still yet to comply.

There has been ample time for auditors to come to grips with their responsibilities and multiple reminders have been issued. Auditors who do not ensure that they are aware of and meet their obligations face the risk of losing their registration. An unregistered auditor is not permitted to audit an SMSF. Conducting an audit of an SMSF when not permitted to do may have further serious consequences for the fund and the auditor.

Approved SMSF auditors can confirm if they have lodged annual statements or update their contact details by accessing their ASIC Connect account.

SMSF trustees and members can check whether their auditor is registered, or whether a person has been disqualified, by searching ASIC’s SMSF Auditor register.

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ASIC warns 185 SMSF auditors to lodge annual statements or their registration will be cancelled

ASIC is sending a final warning to 185 approved SMSF auditors that their registration will be cancelled if their outstanding annual statements are not lodged with fees paid by 22 July 2016.