The regulators of Self-Managed Super Funds (SMSF), the Australian Taxation Office (ATO) and Australian Securities and Investments Commission (ASIC), place great importance on the annual audit of the SMSF. The audit of these funds involves both financial and compliance components. The purpose of this audit is to provide an independent report to the trustee that there are no material errors in the financial statements and that the fund has complied with the SIS Act, by which they are regulated. The auditor is under strict requirements to report any SIS breaches that are identified to enable them to be rectified. We now have two ASIC registered auditors on our team to ensure that all audits are conducted in accordance with ASIC guidelines.
Our SMSF Audit enables Accountants, Financial Planners and Administrators of SMSFs to obtain an audit opinion that is free from any actual or perceived bias, undue influence or pressure. This ensures compliance with the jointly issued Section 290 (formerly Professional Statement F1 – ‘Professional Independence’) within the Code of Professional Conduct. The Professional Statement F1 has been issued by CAANZ and CPA Australia to ensure the independence of members is achieved in all engagements that are undertaken by their members.