SMSF auditors

Welcome to our homepage for self-managed superannuation fund (SMSF) auditors.

The SMSF auditor registration reform is part of the Australian Government's wider Stronger Super reforms and has been implemented to improve the integrity of the audit process and set minimum levels of competency standards for SMSF approved auditors.

Here is information and guidance for auditors and prospective auditors who wish to audit SMSFs under the Superannuation Industry (Supervision) Act 1993.

Find out how to register as an approved SMSF auditor

See details of documents required as part of your registration application

Read our frequently asked questions about SMSF auditor registration

Who needs to register as an approved SMSF auditor?

Auditors who wish to sign off audit reports for SMSFs from 1 July 2013, must register with us. You must be an Australian resident and meet other eligibility requirements to be an approved SMSF auditor.

Key dates

31 January 2013	Online public registers will start for all registered, suspended and disqualified SMSF auditors.
Between 31 January 2013 and 30 June 2013 (Transitional period)	During the transitional period, the following arrangements will apply to existing approved auditors of SMSFs: An existing approved auditor who has signed off on an SMSF audit in the 12 months immediately before applying, will not need to meet the required minimum hours of practical experience. An existing approved auditor who has signed off on twenty or more SMSF audits in the 12 months immediately before applying, will not be required to pass a competency exam and meet the required minimum hours of practical experience. An existing approved auditor who is a registered company auditor will not need to meet the required minimum hours of practical experience and competency exam requirements. An existing approved auditor who has signed off on less than twenty SMSF audits in the 12 months immediately before applying, may be registered with a condition on their registration that they pass a competency exam before 1 July 2014.
30 April 2013	Applicants should apply by 30 April 2013 to provide ASIC with adequate time to process their application, as they cannot practise as an SMSF auditor from 1 July 2013 until they are registered. We cannot guarantee that applications received after 30 April will be processed before 30 June 2013. If an application is not approved by 30 June 2013, auditors must immediately cease signing off audit reports for SMSFs until such time that they are registered.
From 1 July 2013	To be engaged by the trustee of an SMSF to audit their fund and sign the audit report, an auditor must be registered with ASIC as an approved SMSF auditor. SMSF trustees will be required to provide the SMSF auditor number (SAN) of their appointed auditor when lodging their SMSF annual return (SAR). Applicants must pass an ASIC-approved competency test before receiving their registration. During the transitional period, existing approved auditors of SMSFs who signed off on less than 20 SMSF audits in the 12 months immediately before applying, may be registered with a condition on their registration that they pass a competency examination before 1 July 2014. Existing approved auditors of SMSFs and registered company auditors who lodge their applications after 30 June 2013 will not be eligible for any transitional arrangements and so will be subject to the requirement to complete a competency exam and have prescribed experience.

Regulatory guidance

ASIC has published ASIC Regulatory Guide 243 Registration of self-managed superannuation fund auditors (RG 243). This guide explains how to apply for registration as an approved SMSF auditor, the types of registers of SMSF maintained by ASIC and the transitional arrangements for the registration of existing approved auditors of SMSFs. It also gives guidance on the continuing legal obligations of approved SMSF auditors.

Want to receive regular updates?

Keep up-to-date with information by subscribing to our free SMSF auditor update. We will provide the latest news on the registers and send through important regulatory guidance directly to your inbox.