APES 110 Code of Ethics Update

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No doubt given the press in recent times you are aware of the updated APES 110 Code of Ethics and the potential effect on current SMSF Audit arrangements for some accounting and financial planning firms.

Some of the key points to consider are as follows:

  • ATO has given SMSF Auditors until 30 June 2021 to address independence issues.
  • PI Insurance risk – Insurers maybe unlikely to provide cover if there is a breach of independence requirements.
  • It is problematic to address independence issues by use of the mechanical and routine processes carve out.
  • Pooling arrangements are unlikely to meet the independence guidelines.

BPR Audit is more than ready to discuss your situation and options available.


BPR Audit SMSF audit business is a highly regarded firm in the SMSF audit space with over 20 years of history. Our key points for you to consider are:

  • A Top 100 SMSF Audit Firm which received clean review reports from the ATO in May 2012 and January 2019.
  • We are not volume driven or intent upon aggregation in the SMSF Audit Market. We value knowing our clients intimately.
  • Australian based – we do not offshore.
  • Technical excellence, much appreciated by our clients.
  • Service Delivery – excellent turnaround times and a key KPI in the business.
  • Our culture is solution based for clients.
  • Adoption of current technology.

Don’t forget we are also Registered Company Auditors, so please do not hesitate to reach out for other audit services.

Founder and director of BPR Audit, Bernie has extensive external audit experience including with a multi-national accounting firm as well as CFO, internal audit and senior management experience with other multi-nationals. Bernie has a passionate focus on client service and delivery, and is dedicated to finding solutions and practical ways to improve their systems and processes. To learn more, connect with Bernie on LinkedIn!