auditor Independence Issue: Can I handover few funds to my previous auditor, who audited those funds last four years & Now he will act as an Accountant and third auditor will audit those Funds, has he need to wait 1 or 2 years time to act as an Accountant ? any Independence Issue for Accountant or third auditor ? or breach of SIS act
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Yes, agreed, but not the other way around.
A previous accountant cannot be engaged as the auditor, except it is unknown if there is a time limit on this restriction.
Hi Md
I cannot see any issue with a previous auditor doing the accounts for a SMSF from an independence perspective.
The audit independence issue is for the new auditor and not the accountant (being the ex auditor).
Thanks
SMSF AAA