Hi
For practising as a SMSF auditor there are 3 sign off capacities per ASIC i.e. sign off as director of a firm, sign off as employee of a company, and sign off as an individual. What difference does it make if a SMSF auditor sign off in different capacities? Are there different obligations or risk associated with sign off as director or employee or individual?
Thanks
James
Hi James
In my view ASIC is just acknowledging that auditors sign off in different capacities. As you note the sign off can be as director of a firm, or as an employee of a company, or as an individual.
From ASIC's perspective the obligations and their expectations on the auditor are the same.
If any other forum members have a view please let the forum know.
Thanks
The Auditors Institute