Training Calendar
With increased legal consequences, ATO and ASIC scrutiny of SMSF auditors, along with ongoing competency standards and ever changing legislation, this training event is an excellent opportunity to update your knowledge in this specialised area.
Our traditional one day seminar has been broken up into a series of webinars, and will cover the following areas applicable to 2020 SMSF audits:
• Rent relief
• LRBA relief
• Audit evidence required to evaluate reasonableness of relief
• Reporting obligations: when to qualify and when to do an ACR Webinar 2: What else is new for 2020? 12 August, 2020 11am
• Independence is in the spotlight
• ATO areas of concerns
• Understanding the new contribution caps
• Annual return changes
• Early release risks
• Pensions being "paid back" Webinar 3: Audit fundamentals 14 August, 2020 1pm
• Auditing standard fundamentals and the ASIC competency requirements
• 2020 changes to the auditing standards
• ASIC expectations and obligations under the Class Order
• What is essential for audit documentation compliance
• ASIC auditor disqualifications and the lessons for auditor independence Webinar 4: Financial statement audit procedures and risk management 17 August, 2020 1pm
• Audit risks areas such as: asset titles, loans, related party investments, asset valuations under COVID-19, cryptocurrency risks, along with strategies to manage auditor exposure
• A discussion on procedures that do not add value
• Consideration of controls based testing
• Examples of litigation impacting auditor risk Webinar 5: SIS compliance: getting the basics mastered 19 August, 2020 11am - SIS requirements and audit procedures for:
• The sole purpose test
• Loans to members and other financial assistance
• Acquisition of assets
• Basic borrowing exceptions
• The definition of an SMSF
• The arm's length requirements Webinar 6: SIS compliance: advanced audit issues 21 August, 2020 11am - SIS requirements and audit procedures for:
• In-house assets: is it grandfathered, exempt or excessive?
• Restructuring grandfathered in-house assets
• Derivative risk statement review
• LRBA's - what clients are still getting wrong
• Intermediary LRBA's
• Property development
• Suggestions on how to rectify major compliance issues Webinar 7: Trust deed review and audit considerations 24 August, 2020 11am
• Audit risks and tips on what to review
• Those "catch-all" provisions
• Recommended procedures to address lost deeds, out of date deeds, breached deed Webinar 8: ATO reporting obligations 26 August, 2020 11am
• Mandatory reporting criteria
• Drafting an ACR, including COVID and non-COVID examples
• What about if the engagement is terminated?
• Understanding the penalty regime and the impact to clients
• Common myths debunked Webinar 9: Managing 2020 audit risks 28 August, 2020 1pm
• Asset revaluation risks
• Contribution cap risks
• Contribution splitting and account equalisation
• Earning allocations
• ECPI calculations Webinar 10: Investment strategies 2 September, 2020 1pm
• Reg 4.09 investment strategy compliance
• Diversification, including why the ATO were concerned, and what is actually required
• What to check before signing the 2020 audit report
• The impact of COVID-19
• How to review the "giving effect to" requirement and practical solutions
• A review of sample strategy wording Webinar 11: NALI & NALE 7 September, 2020 11am
• The NALE rules and how and when they apply
• The impact of NALI, including worked examples on NALI risk
• What about COVID-19 issues? Webinar 12: Qualifications and other communications 9 September, 2020 11am Not sure how much detail to include in the audit report or client communication?
• What level of detail is required
• Worked examples of Part A and Part B qualifications (for common and not-so-common issues)
• Recommended management letter points, including sample wording
These webinars have been designed to cover the latest changes together with an overview of all the audit requirements, audit procedures and areas of concern for auditors and will be an excellent refresher for yourselves or a valuable training event for your staff to ensure you and your team remain up to date. The webinars can be purchased as a single session, a bundle of your choice of 8 or all 12 webinars. Each single session is $165 inc. GST, the bundle of 8 webinars is $990 inc. GST and the bundle of 12 is $1,375 inc. GST. Please note: Bundles can not be split between attendees. If you are interested in unlimited firm access to our webinars, please e-mail Belinda at baisbett@supersphere.com.au for details.
Registrations are now open To register, please click here.