CA ANZ, CPA Australia and the IPA have provided a submission to Treasury on the Exposure Draft of the Superannuation Auditor Registration Imposition Regulations 2022, which remake the Superannuation Auditor Registration Imposition Regulations 2012 (“2012 Regulations”).

We continue not to support the imposition of a fee for registration as an approved SMSF auditor, and so do not support the proposed increase from $1,927 to $2,191. We are concerned that the quantum of the fee could discourage new approved SMSF auditor applications. It is unclear why the SMSF auditor registration fee would be more than five times higher than the Registered Company Auditor (RCA) registration fee. If the fee for registration as an approved SMSF auditor does genuinely reflect the processing costs of these applications, then we consider that a fundamental review of the application process is warranted.

However, we do support the SMSF competency exam sitting fee remaining at $107 and the proposed reduction in the fees for applying for:

• registration as an approved SMSF auditor to be cancelled (from $899 to $193), and
• conditions imposed on registration as an approved SMSF auditor to be varied or revoked under section 128D of the Superannuation Industry (Supervision) Act 1993 (from $1,028 to $678).