Catalyzes the conversion of sulfoacetyl-CoA and NADPH to sulfoacetaldehyde, CoA and NADP(+). Specific for NADP(+) and sulfoacetaldehyde. CoA + NADP(+) + sulfoacetaldehyde = H(+) + NADPH + sulfoacetyl-CoA Optimum pH is 9.0. Homodimer. Induced by sulfoacetate. Mutants do not grow with sulfoacetate, but can use acetate, taurine, isethionate and sulfoacetaldehyde. Belongs to the aldehyde dehydrogenase family.