As part of our annual service, we arrange the SMSF Audit on behalf of the trustees and try to prepare you in advance so that the process is as painless as possible.
All Self Managed Super Funds must conduct an SMSF Audit annually before a tax return is able to be lodged to the ATO. This auditor must be independent to the accountant who prepared the files, where their job is to be sceptical and require proof of the veracity of the reports prepared.
The cost of the audit service will vary depending on the type of investments that the fund holds as well as the type of software the fund is prepared with. For example, a fund that has been manually prepared on a spreadsheet or a non-cloud software package will cost a lot more to audit than a fund prepared on Class due to the time savings that modern technology provides.
The information that the auditors will require is extensive depending on the asset classes. We assist our clients throughout the audit process and many of the items listed below will be contained within the Class Super software package or be able to be obtained by our staff.
Please see below a non-exhaustive list of what may be required.
This will vary greatly depending on the type of investments that the fund holds but the basic rule is that you must have a document to substantiate every transaction and holding value within the fund.
If you’re interested in learning more about our SMSF Audit Services please reach out for a confidential quote. Simply submit your details and one of our friendly team will be in touch as soon as possible.
Do you want to learn more about our SMSF Audit Services?
Give us a call on 1300 392 544 or fill in the form above.