ASIC simplifies SMSF auditor rego
The corporate regulator has revised and simplified the registration process for prospective self-managed superannuation fund (SMSF) auditors.
The Australian Securities and Investments Commission (ASIC) said the changes would make it easier for applicants to provide all required information with their application.
"This will reduce red tape and save time for applicants as ASIC will generally not need to seek further details about their experience," ASIC said.
ASIC said the template documents that applicants need to provide on their experience were:
- Statement from applicant;
- Audit hours logbook; and
- Statement from supervisor.
ASIC commissioner, Greg Tanzer, said: "ASIC is continually reviewing how we can improve the services we provide the community".
"If we can reduce the time required for what should be straightforward auditor registrations, this allows us to assess an application faster with the benefit of all information being available from the outset," he said.
Recommended for you
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
211.16 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
121.06 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Smarter Money Long-Short Credit Investor USD
68.96 3 y p.a(%)
