Superannuation Industry (Supervision) Regulations 1994

For paragraph 128F(a) of the Act, the requirements in this regulation form the continuing professional development requirement.

The approved SMSF auditor must undertake at least 120 hours of continuing professional development every 3 years.

The development must:

include 30 hours of development about superannuation at least 8 hours of which is development about auditing of self managed superannuation funds; and

be development that could reasonably be expected to enhance an approved SMSF auditor’s technical skills or professional service delivery.

The approved SMSF auditor must keep a written record of the development undertaken by the approved SMSF auditor for at least 3 years after the end of the financial year in which the development occurred.