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Hi
Just wondeing when applying for an auditor license with ASIC, Can a supose become the supervisor for his/her partner?
Regards
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Hi Dawood
My understanding is that a spouse could become a supervisor for the SMSF auditor application for ASIC.
If you refer to the statement from supervisor template produced by ASIC there is no reference to a spouse being precluded from acting as a supervisor.
ASIC also produce Regulatory Guide 243 "Registration of self-managed superannuation fund auditors" and there is nothing in this document that makes reference to a spouse not being able to be a supervisor.
SIS Regulation 9A.03 also states that the practical experience required is:
"(a) at least 300 hours of work auditing self managed superannuation funds under the direction of an approved SMSF auditor in the 3 years immediately before applying to be an approved SMSF auditor;
(b) practical experience that the Regulator regards as equivalent to the practical experience mentioned in paragraph (a)."
That is the SIS regulations also refer to direction of an approved SMSF auditor and make vno reference to a spouse effecting this.
Thanks
The Auditors Institute