Document ID: chunk:federal_register_of_legislation:C2025C00134:section:128f
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 128F
Character Range: 658643–659685

128F  Professional obligations of approved SMSF auditors
  An approved SMSF auditor must:
 (a) complete the continuing professional development requirements prescribed by the regulations; and
 (b) hold a current policy of professional indemnity insurance, of a level prescribed by the regulations, for claims that may be made against the auditor in connection with audits of self managed superannuation funds; and
 (c) comply with:
 (i) any competency standards that the Regulator determines under section 128Q; and
 (ii) any auditing standards, made by the Auditing and Assurance Standards Board under section 336 of the Corporations Act 2001, that are applicable to the duties of an approved SMSF auditor under this Act; and
 (iii) any auditing and assurance standards, formulated by the Auditing and Assurance Standards Board under section 227B of the Australian Securities and Investments Commission Act 2001, that are applicable to those duties; and
 (d) comply with the auditor independence requirements prescribed by the regulations.