The Tax Office withdrew Law Administration Practice Statement PS LA 2010/2 (SMSFs – approved auditors – disqualification and/or referral to a professional association) on 13 February 2013. It was withdrawn because effective 31 January 2013, the Commissioner no longer has the power to disqualify approved auditors of SMSFs, or refer same to their professional association. PS LA 2010/2, originally released on 8 July 2010, outlined considerations for the Commissioner, as the Regulator of SMSFs, when deciding whether to: (i) disqualify a person from being an approved auditor for the purposes of the Superannuation Industry (Supervision) Act 1993, and/or (ii) refer an approved auditor to their professional association.
[LTN 35, 21/2/13]