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ASIC reports on SMSF auditor registrations for FY2020–21
ASIC registered 40 SMSF auditors during the 2019–20 income year, while a further 16 applications for SMSF auditor registrations were withdrawn.
In its Licensing and Professional Registration Activities Report for 2020, ASIC stated that between July 2019 and June 2020, it received a total of 66 applications for SMSF auditor registrations.
Out of the 66 applications received, 33 auditors were registered without conditions, seven were registered with conditions and 16 applications were withdrawn. The remaining 10 were not finalised during the 2019–20 year.
ASIC noted that no applications for SMSF auditor registrations were refused.
The number of approved SMSF auditors has steadily declined over the past few years. Since June 2016, the number of approved SMSF auditors registered with ASIC has declined by 972 auditors.
During the 2019–20 financial year, ASIC also approved 277 applications for new AFS licences and 464 variations of AFS licences.
Miranda Brownlee
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.
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