ASIC issues auditor registration reminder
The Australian Securities and Investments Commission (ASIC) has issued a statement urging auditors who currently conduct self-managed superannuation fund (SMSF) audits to apply for registration before the end of the month.
The regulator's statement said this was necessary to ensure the auditors were registered before 1 July because, after that date, they will not be able to conduct SMSF audits even if ASIC has received their application.
The ASIC statement said some existing approved auditors of SMSFs might be eligible for exemptions from the requirements if they lodge their application during the current transitional period.
It said registration would be mandatory for anyone conducting SMSF audits from 1 July. Sanctions might be applied if an auditor accepted an SMSF audit engagement without being registered after 1 July, 2013.
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