Four SMSF auditors united their expertise and voice and submitted a response to Treasury about proposed reforms to SMSF legislation in 2018.
Those Budget announcements raised a real risk to the integrity, cost-effectiveness and compliance of work done by SMSF audit professionals. The changes threatened the core of SMSF auditors’ professionalism because they conflicted with existing Auditing Standards. Increased costs to Trustees loomed without achieving the reduced bureaucracy envisioned for all involved in the SMSF industry.
Fortunately, the proposed changes were never legislated.
Having come together to address this issue, these four professionals realised the necessity and opportunity to create an organisation to protect the interests of SMSF auditors into the future and safeguard the broader SMSF industry and their Trustees.
In that moment, SMSF AAA was established, and today founding members Sam Marotta and Gino Coiera are still on the Board of Directors.
SMSF AAA continued to grow, serving the SMSF audit community by providing advocacy, access to responsive SMSF audit specialists, a huge technical knowledge repository and a supportive, diverse, and collaborative membership.
SMSF AAA has rebranded to The Auditors Institute Ltd. Extensive member feedback and demand for audit resources and support to be available to a wider audience of accountants and auditor led to the rebrand. As The Auditors Institute, we are committed to supporting auditors and accountants with our SMSF Auditor Membership, Registered Company Auditor Membership and Associate Memberships.
