Yaw Boadi

Name
Yaw Boadi
ID
100264024
ABN
Registration date
June 1, 2016
Status
Registered
Address
Constitution Hill, 2145, NSW

Capacities

Firm name
UDO Super Services PTY LTD
Appointment type
Member (Partner) of Audit firm
Date commenced
June 1, 2016

Conditions

ID Date Condition Details
1-51373202706 June 1, 2016 Professional indemnity insurance requirements 2. The approved SMSF auditor must at all times maintain a professional indemnity insurance policy which either: (a) complies with the level set under a limitation of liability scheme provided by a professional organisation; or (b) has a minimum insured amount of $500,000 together with adequate policy terms covering civil liability claims in respect of SMSF audits.
1-51373202705 June 1, 2016 Notifications to ASIC 1. The approved SMSF auditor must notify ASIC of any change in those matters which are required to be notified under section 128H of the SIS Act.
1-51373202704 Sept. 29, 2022 Notification to professional body 16. Within one month of these further conditions being imposed the approved SMSF auditor must provide: (a) a copy of the letter formally imposing these further conditions to their professional body to be aware of the conditions for any future compliance monitoring activity in relation to the auditor, such as practice reviews; and (b) evidence to ASIC that the letter has been provided to the professional body.
1-51373202703 June 1, 2016 Continuing professional development requirements 3. The approved SMSF auditor must complete at least 120 hours of continuing professional development (CPD) training every three years, which must include 30 hours of training on superannuation, of which at least 8 hours of training is about auditing of SMSFs. 4. The approved SMSF auditor must keep a written record of their participation in CPD activities, which must be kept for at least three years after the end of the calendar year in which the activity took place.
1-51373202702 June 1, 2016 Compliance with competency standards 5. The approved SMSF auditor must comply with any competency standards published by ASIC under section 128Q of the SIS Act.
1-51373202701 June 1, 2016 Compliance with auditing standards 8. The approved SMSF auditor must document, maintain and comply with 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 SMSF Auditor.
1-51373202700 June 1, 2016 Compliance with auditing and assurance standards 7. The approved SMSF auditor must document, maintain and comply with auditing and assurance standards made by the Auditing and Assurance Standards Board under section 227B of the Australian Securities and Investments Commission Act 2001 that are applicable to the duties of an SMSF Auditor.
1-51373202699 June 1, 2016 Auditor independence requirements 6. The approved SMSF auditor must comply with auditor independence requirements produced by the Accounting Professional and Ethical Standards Board Limited set out in the APES 110 Code of Ethics for Professional Accountants.
1-51373202698 Oct. 10, 2022 Submit audits for review 9. The approved SMSF auditor must engage an independent approved SMSF auditor to undertake: (a) a review of their SMSF audit tools, templates and methodology including the policies and processes in relation to offshoring; and (b) a review of three selected SMSF audit files. 10. The independent reviewer is to be someone agreed to by ASIC. 11. The review is to assess compliance with the auditor''s relevant SIS Act requirements and SMSF auditing and assurance standards. These reviews are to be conducted at the approved SMSF auditor''s expense. 12. Within one month from the date of this condition being imposed the approved SMSF auditor must provide the name and contact details of a proposed independent reviewer for ASIC to consider along with a statement about their independence. The reviewer must not be engaged until ASIC provides approval to do so.
1-51373202697 Oct. 10, 2022 Submit audits for review (cont.) 13. Within four months of this condition being imposed the reviewer is to complete their review of SMSF audit tools, templates and methodology including the policies and processes in relation to offshoring. The reviewer must have provided written observations to the approved SMSF auditor and the approved SMSF auditor is to have provided written responses, including actions to address any issues raised. The reviewer''s written comments and the approved SMSF auditor''s responses are to be provided to ASIC within five months of this condition being imposed. 14. By 30 June 2023 (or a date otherwise approved by ASIC) the approved SMSF auditor must provide a list of all SMSFs that they are the appointed auditor for the financial year ended 30 June 2022. The list is to include the total assets of the SMSF and the date of the audit report. ASIC will then choose three SMSF audits for review and notify the approved SMSF auditor of the selection. The approved SMSF auditor must provide the reviewer the selected audit files within 2 days of being notified of the selection and within 5 days confirm in writing to ASIC that the files have been provided to the reviewer. 15. The reviewer will review the selected audit files and provide a statement in writing to ASIC within 60 days of receiving them. The statement must detail the scope of the review, any significant deficiencies identified, and whether in the reviewer''s opinion, based on their review, the SMSF audits have been conducted in accordance with the applicable Australian Auditing Standards and the SIS Act.

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