Due to current circumstances, Australian SMSF Audits are no longer providing audit services directly to trustees.
At this time, we are not accepting any new accountant client.
Australian SMSF Audits provide independent audits of Self-managed Superannuation Funds at competitive rates using state of the art, cloud based audit software. It is our goal to maintain a prompt turn around of all funds accepted for audit, subject to the provision of the necessary information. The independent auditing of Self-managed Superannuation Funds is a compulsory legal requirement that verifies Funds are complying with the necessary legislation and therefore qualify for the concessions that a Fund is entitled to.
Australian SMSF Audits undertakes the auditing of SMSFs on behalf of accountants that have prepared financial reports & income tax returns for funds and for the trustees of funds who have undertaken the preparation of the reports and returns themselves.
Legislation requires the Auditor to be independent from the subject matter being reviewed. This excludes accountants who are involved with the preparation of financial accounts and Annual returns for SMSFs undertaking the audit of those funds or who are associates of Trustees. Australian SMSF Audits ensures we comply with these requirements.
The Australian Taxation Office (ATO) closely review auditors that offer low-cost audits. Audits below $400 are considered low-cost. Such audits may not have been done thoroughly and often fail in areas such as requiring representation letters from trustees and/or maintaining adequate audit work papers. While our costs are kept as low as is practicable, we ensure that our audits do comply with all guidelines set by all government and professional bodies.
Australian SMSF Audits does not prepare financial reports or Annual (Income Tax) returns for Self-managed Superannuation Funds. We can lodge Annual returns electronically on behalf of the trustee where they have been prepared by the trustee, in accordance with ATO guidelines.
We have prepared the following checklists to assist trustees and accountants. Click on the links below to access PDF copies:
Audit Checklist - A summary of documents we may require to undertake the audit of a superannuation fund.
Trustee Record-keeping - A guide to assist trustee to retain records.