Awan Hammad

    Hi Md

    I believe it is common that an auditor would audit a number of Fund’s for an accounting firm and also audit the main accountant (or Partners) personal SMSF.

    The threat to independence in your example is “self-interest” & “intimidation”.

    These threats are explained in the Independence Guide (APESB & CA & CPA & IPA).

    The Independence Guide was issued in May 2020. Chapter 8 is in relation to SMSF’s.

    The guide has a number of examples that assist auditors in understanding their responsibilities in complying with APES 110.

    Example 6 is below & that provides guidance.

    As auditor you must evaluate the threats to independence and eliminate these to an acceptable level or not accept the appointment.

    If other forum members have a view please let the forum know.




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