All SMSFs need auditing.  Auditors are required to be registered and have onerous obligations with ASIC. We outsource the audit and taxation function to carefully selected, specialist CPA or CA firms that we have an alliance with. This enables us to focus solely on what we love the most – helping educate trustees on how they can use their SMSF to invest.

2 Important Auditing Points to Be Aware Of:

• NB. ATO compliance laws insist that SMSF deeds are updated at least every three years so please look at the dates on your deed and any amendments to ensure they are still compliant.
• Should the auditor find trustees have breached the Superfund rules, it can be deemed non-complying and can be taxed at the highest tax rate of 45%.  You could also face penalties or jail or your actions are bound to be in breach of the rules.

If you have any questions about the auditing process or you feel your deeds need updating simply contact us and we’ll be happy to help.

See Also:

• Wealth Creation Plan
• Protect Your Assets
• Costs of Maintaining
• SMSF Borrowing
• SMSF and Property