SMSF Audit Risks with Property Development and Valuation Compliance and the Auditor`s Duty of Care – a Live Online Conference
Wednesday 13th February 2019 – LIVE online:

Vic, NSW, Tas, ACT – 1.30 to 5pm
Qld 12.30 to 4pm
SA 1.00 to 4.30pm
NT 12noon to 3.30pm
WA 10.30 to 2pm
.   .

You can put your staff in the boardroom and watch it there.  You can watch it on your computer or on your portable electronic device.  All for the same low price.

The conference will be based on our highly successful video webinar technology: there’ll be a chairperson, a panel of experts, presentations and discussion – and you’ll have an opportunity to ask questions.

Session 1:  Auditor Scrutiny of SMSFs Involved in Property Development

SMSFs can engage in property development, but the key to compliance is on how the investment occurs. Contraventions can easily ensue and it is necessary for the auditor to be on top when it happens. This session looks at the key issues, including:

  • Structuring the deal – its relevance to audit
  • Can a SMSF run a business? - Operation of TR 93/17
  • Dealing at arm’s length with other entities – practical problems for property development and SMSFs
  • Establishing whether an SMSF is able to borrow funds for property development
  • Borrowing requirements in acquiring real estate – evaluation by auditor
  • Evaluating the requirement for a limited recourse borrowing arrangement

Session 2:  The SMSF Auditor Role in Reviewing Valuation Compliance: The Headaches Continue

Market valuations will be subject to strict ATO scrutiny for compliance, particularly as SMSF trustees scramble to stay under the new caps and balances. This session examines the key auditor responsibilities in auditing valuation compliance, including:

  • Determining the market value of an asset - what the auditor should look for
  • Valuation requirements for property and what is adequate audit evidence of the valuation
  • Determining what is commercial terms when reviewing rental income
  • Valuing units in unlisted trusts or shares in unlisted companies - audit checklist
  • Valuing cryptocurrencies – what are the challenges for auditors?
  • Valuing overseas property, collectibles and personal use assets - what is sufficient evidence for an auditor?
  • Auditor role to check annual financial statements properly reflect market value on supportable evidence
  • Powers of auditor to request further evidence
  • Auditor reporting obligations where there is a breach, or potential breach

Session 3:  Lessons from the Court: Overview of Recent Cases Affecting SMSF Auditors

A swag of recent decisions have been handed down over the last few months which have significant consequences for SMSF auditors. In this practical session, we unpack the key learnings from these cases and what they mean for auditors. The cases covered include the following:

  • Aussiegolfa Pty Ltd (Trustee) v Commissioner of Taxation [2018] FCAFC 122
    • when do SMSFs making investments and dealing with a related party breach the sole purpose test?
    • when do SMSFs breach the in-house asset rules?
  • Cam & Bear Pty Ltd v McGoldrick [2018] NSWCA 110
    • what is the scope of the auditor’s duty of care?
    • when does a breach of that duty cause the loss claimed?
  • Ryan Wealth Holdings Pty Ltd v Baumgartner [2018] NSWSC 1502
    • when is an SMSF auditor liable for losses?
    • detecting irregularities – what should SMSF auditors look out for?


Rohan Mansfield, Principal, LDB Group, Melbourne - Chairman

Brenda Hutchinson, Partner, TAG Financial Services, Melbourne

Sharif Eldebs, Principal, Assured Super, Melbourne

Belinda Aisbett, Director, Super Sphere, Melbourne

  • It was just like being at a well run conference but in many ways better. 
  • This option is of great assistance to country practitioners.
  • The live online conference format worked well and made the speakers more engaging than a recording.
  • Our team used the boardroom.  We could talk and discuss the presentation without feeling we were imposing on others and you could submit a question, which we did.  All from the comfort of our own office.
  • The conference was well organised and the email links very useful.

Delegates registered to attend the LIVE event will receive a CPD certificate for attendance.   Accountants can claim up to 3 CPD/Training hours.


If you register and pay by Friday 18 January 2019 you will pay only $495 – a saving of $55 off the full price conference registration fee of $550.

If you need assistance or have an enquiry, please do not hesitate to contact our Event Coordinator, Lisa Tran on (03) 8601 7709 or email:
Product Code: OSAFEB19
 Price:   $495.00 (Inclusive of GST)
© 2018 Television Education Network Pty Ltd. All rights reserved. The program for this conference is copyright and may not be reproduced in any form without the prior written consent of the copyright owner.